Yandex buys Uber's stake in mobility JV for $702.5M - Breaking The News

Yandex buys Uber's stake in mobility JV for $702.5M

21 April

1 min read

EPA-EFE/MAXIM SHIPENKOV

Yandex NV announced on Friday that it finalized an agreement with Uber Technologies Inc.'s subsidiary Uber NL Holdings 1 BV to acquire Uber's entire remaining stake in their mobility joint venture MLU BV.

The 28.98% stake was bought for $702.5 million in cash and the transaction was approved by the boards of directors of both companies and by regulators, Yandex explained in a press release.

Yandex increased its stake in the joint venture to 71% in August 2021 in a wider deal between the two firms.

yandex mergers and acquisitions uber ride-hailing yandex taxi

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