Sberbank and “Yandex” has signed an agreement of intent to create a joint venture on the basis of Yandex.Market. About it reports a press-service of the Bank.
The parties signed a non-binding documents on creation of the joint venture. The transaction will be closed after we signed binding documents, conducted a comprehensive investment check Yandex.Market and obtained the necessary regulatory permissions.
By combining infrastructure and technology, the company will develop an ecosystem of e-Commerce, including the purchase and sale of goods, including digital, as well as related products and services.
“Under the agreement, Sberbank is investing in Yandex.Market 30 billion rubles. At the time of the transaction partners evaluate all the company at 60 billion rubles without taking into account future synergies. The parties will have equal shares in the company. Up to ten percent of the company’s shares will go to the creation of an optional Fund for employees of Yandex.Market”, – stated in the message.
Yandex.The market will continue to operate under the current management team headed by the Director General Maxim by Grishakova, which will include the Board of Directors of Yandex.Market along with three representatives of “Yandex” and three from “Sberbank”.
The parties expect the closing of the transaction until the end of 2017.