VK announced the signing of binding documents, according to which the company will receive a 100% stake in the Delivery Club food and grocery delivery service and withdraw from the membership of O2O Holding, a joint venture between VK and Sberbank.
The parties plan to close the deal in late 2022 after receiving a series of regulatory approvals. According to reports, VK and Sber remain strategic partners and will cooperate “in various directions.”
In the future, VK will transfer Delivery Club to Yandex as part of an agreement to acquire the Zen and Novosti content platforms.
On August 22, VK and Sberbank agreed on the division of the joint venture. As a result of the O2O Holding section, VK will receive its main asset – the Delivery Club food delivery service. In the future, VK will change it to Novosti and Zen, owned by Yandex. In this case, Yandex.Food can eliminate its main competitor.
The signing of binding documents between VK and Yandex was announced later on August 23.
VK and Sber created O2O Holding in 2019. In the joint venture, they own 45.01% each, another 9.98% belongs to O2O Group (PTS) Limited, registered in the British Virgin Islands.
Author:
anastasia mariana
Source: RB
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