Anonymous sources in the investment community familiar with the talks say Yandex ultimately decided to buy Uber’s 29% stake in the combined Yandex.Taxi and Uber company – MLU BV – and almost settled on an undisclosed amount.
As Forbes discovered, “Yandex” was left with no choice, so the company will buy back the shares “at a small premium” to the alternative offer.
A new round of negotiations was triggered by Uber’s desire to speed up the sale of a stake in the joint venture after the outbreak of a military conflict on the territory of Ukraine.
By December 2022, Kismet Capital Group laid claim to it. He set a price of $925 million for the 29%, despite the fact that the value of the assets fell sharply due to the political situation.
According to market experts, Uber’s forcing “contradicts the rule of choice.”
Following Yandex’s $1 billion purchase of Uber’s shares in Food, Lavka, Delivery and the company’s unmanned division in March 2022, the companies agreed on Yandex’s preemptive right to buy a stake in the company. 29% at a fixed price in the range of $1.8-2 billion
In an attempt to realize the promised right, Yandex entered the second round of negotiations and managed to agree on the acquisition of shares at an acceptable price.
If the deal is approved, the IT giant will become the sole owner of Dutch-registered MLU BV, which manages the Yandex.Taxi, Yango and Uber brands in Russia and the CIS.
Neither Kismet leader Ivan Tavrin nor representatives of Yandex.Taxi and Uber comment on the post.
Author:
Ekaterina Alipova
Source: RB
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