MOSCOW, April 21. /TASS/. Yandex has bought out the entire remaining interest held by Uber in the mobility joint venture of the parties [MLU B.V. - TASS], the technology company said on Friday.
"Yandex acquired Uber’s entire remaining 28.98% interest in MLU for total consideration in cash of $702.5 million," the company said. As a result of the deal, Yandex will become the sole owner of the group comprising taxi booking, car sharing and scooter hire services.
"The boards of directors of both Uber and Yandex approved the transaction. The transaction was not subject to the approval of the shareholders of either Uber or Yandex. The parties received all required regulatory approvals," Yandex added.