Yandex Buys Uber Out of Food-Delivery, Self-Driving Venture
- Yandex to buy food-tech, delivery and self-driving businesses
- Deal could reach $3 billion with option to buy mobility unit
A courier for the food delivery service Yandex.Eats in Moscow, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Yandex NV is buying out Uber Technologies Inc.’s shares in its food tech, delivery and self-driving businesses and has an option to purchase the remainder of their joint venture in a deal that could reach $3 billion.
The Russian internet giant will get 100% of Yandex.Eats, Yandex.Lavka and Yandex.Delivery, as well as a self-driving venture that operates cars and drones in a $1 billion cash deal, according to a statement Tuesday. It will also receive a call option to acquire Uber’s remaining interest in their ride-hailing and car-sharing business.