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Source reveals how long it will take Yandex to close Delivery Club acquisition deal

It is reported that Delivery Club is going to continue to operate under its own brand after it’s transferred to Yandex

MOSCOW, August 23. /TASS/. Closing Yandex’s acquisition deal of Delivery Club and the transfer of media assets will take up to two months, depending on the decision of the Federal Antimonopoly Service (FAS) of Russia, a source familiar with the deal told TASS.

"One, one and a half, or two months at most. The Federal Antimonopoly Service still has to give permission, and that depends on how quickly this happens," he stated.

Representatives of Yandex and VK declined to comment.

According to Yandex Eda CEO Roman Maresov, Delivery Club is going to continue to operate under its own brand after it’s transferred to Yandex, and it will retain its website and mobile app.

TASS announced earlier that VK would transfer Delivery Club food delivery service to Yandex as part of a deal to acquire the Zen and Novosti platforms.

"VK announces the signing of binding documents under which the company will receive 100% of the restaurant and grocery delivery service Delivery Club and exit the O2O Holding joint venture. The deal is expected to close before the end of 2022, pending the receipt of a number of regulatory approvals. Following deal closure, VK and Sber are to remain strategic partners and will continue to cooperate in various areas. In the future, VK plans to transfer its entire stake in Delivery Club to Yandex as part of the deal to acquire [the] Zen and News content platforms," VK said in its press release.

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