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24 Aug 2022, 16:52

Russia’s Antimonopoly Service receives petition from VK, Yandex on Delivery Club deal

Earlier, it was announced that VK would transfer Delivery Club food delivery service to Yandex as part of a deal to acquire the Zen and Novosti platforms

MOSCOW, August 24. /TASS/. The Federal Antimonopoly Service (FAS) of Russia has received applications from VK and Yandex to acquire Delivery Club, the agency said.

"The Federal Antimonopoly Service has received applications from VK and Yandex to acquire Delivery Club service, Zen and Novosti platforms. In the prescribed manner, the service will assess the impact of transactions on the respective markets," the agency said.

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.

A source familiar with the deal told TASS that 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.