“Yandex” declared section of joint business with the savings Bank. The Internet company will redeem a share in “Yandex.Market” for 42 billion rubles and sell a share in “Yandex.Money” for RUR 2.4 bln in Parallel “Yandex” will issue shares for $800 million, three quarters of which equal shares will be sold, “VTB Capital”, as well as the structures of Roman Abramovich and his partners Evraz Group Alexander Abramov and Alexander Frolov. In total it will be about 5% of the economic and 2.5% of the voting shares in the company.”Yandex” and Sberbank agreed on the division of joint business, the parties. Yandex will acquire the savings Bank 45% in “Yandex.Market” for 42 billion rubles, the company said. From the message of the savings Bank, it follows that the aggregate profit of the Bank from the transaction is approximately RUB 20 billion at the same time the savings Bank buys a minority share of “Yandex” (25% + 1 RUB) in another of their joint venture — “Yandex.Money” and plans to re-brand project. According to preliminary estimates, the transaction will be around 2.4 billion At the end of the transaction the Chairman of the Board of Sberbank Herman Gref remains in Board of Directors “Yandex” before the formation of his new composition, but in the future no plans to participate in this governing body.However, “Yandex” will be the new shareholders. The company will release an additional issue of shares class A $800 million Economic share of all newly issued shares in the capital of the company will amount to about 5%, voting share of about 2.5%. Shares for $200 million will be implemented by placing under the accelerated subscription, and the shares for $600 million will be equally sold to three private investors, “VTB Capital”, the investment company of Roman Abramovich and his investment partners Evraz Group Alexander Abramov and Alexander Frolov. In addition, for two years they can’t increase their share of “Yandex” more than to 3.99%, the report said the Internet company. The transaction price for this group of investors will be determined after the public offering.”The industry shows strong growth, so VTB’s entry into the capital of the company is a promising investment that opens up opportunities for strategic partnership on a number of fronts. The deal will allow the company “Yandex” to attract financing on favorable terms, and in the future — use the expertise of “VTB Capital”, a leading Russian investment Bank, in the implementation of development plans”— said the press service of VTB.Sberbank became the co-owner “Yandex.Market” in April 2018. Then, the Bank has invested in a joint project of 30 billion rubles, having him 45%. The same proportion remained in “Yandex”, 10% were transferred to the Fund is optional for the “Yandex.Market”. As explained the first Deputy Chairman of Sberbank Lev Khasis, the competition between the ecosystems of the two partners start narastAMB, and in the end the parties managed to find a “balanced and mutually beneficial solution”. “Yandex” in its communication has indicated that it plans to integrate “Yandex.Market” with the business “Yandex.Taxi” (a joint venture of Yandex and Uber). For directions, taxi and food Sberbank is developing a joint venture with Mail.ru Group.Previously about the imminent divorce of Yandex and Sberbank, as well as on the additional issue of shares of the Internet company reported The Bell. Analysts in an interview with “Kommersant” called the non-obvious solution of “Yandex” on the issue of additional shares, pointing to the presence in the accounts of the company are potentially of sufficient funds to purchase the shares in the joint venture.Dmitry Shestoperov
