“Yandex” can become the co-owner of global business Uber

TASS, July 14. “Yandex” in the framework of the acquisitions of online business-traffic in Russia and five other countries, Uber could get a stake in the American company. Such information contains in the message on the website of the securities Commission of the United States, the specific share is not specified.

According to the information in the materials of Yandex, business online-traffic will be merged into a Dutch B. V. company MLU “Yandex” will invest in the new company $100 million, Uber $225 million In the future “Yandex” sell Uber advanced about 2% in the United company, in exchange will receive common stock Uber class A, specified in the materials. “Yandex” also will have the right to require Uber to buy back the company’s shares of class A obtained as a result of the transaction, and Uber will be able to require “Yandex” to sell these shares at the agreed price and at agreed time.

The representative of “Yandex” Ochir Mandzhikov explained to the newspaper “Vedomosti” that the agreement “Yandex” will receive a “minor stake in Uber Technologies Inc”. This information was confirmed by TASS in the press service of the Russian company.

After the closing of the transaction based on the investment of both parties and possible adjustments in “Yandex” will be 59.3% of the new company, the Uber – 36.6%, and 4.1% of the company’s employees. The company’s total value is estimated at $3,725 billion.

“Yandex” and Uber on 13 July announced that will unite businesses online traffic in Russia and five more countries – Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan. Players appreciate a share of the joint company in the Russian market of passenger transportation in the cities of presence of 5-6%. It is expected that the transaction will be closed in the IV quarter of 2017.

The deal on the establishment of a new company has been approved by the boards of Directors of Uber and “Yandex”, however requires approval from regulators. The head of the Federal Antimonopoly service Igor Artemyev has said that the deal could pose a threat to competition in the market for online taxi aggregators.

The Application “Yandex.Taxi” Uber after the closing of the transaction for users will remain separate. At the same time, the taxis and the drivers will switch to a single technology platform.

Uber is not going to change the tariff policy after the closing of the business combination with “Yandex.Taxi”. No radical changes in tariffs do not predict the “Yandex” – either now or in the future.