Yandex and Sberbank divorce
Investing.com — “Yandex” and “Sberbank” intends to end the partnership in two SP, writes The Bell. According to the publication, “Yandex” will buy from Sberbank share in “Yandex.Market”, and the Bank will receive a share of the Internet giant “Yandex.The money.”
Both companies own site of electronic Commerce (“Yandex.Market”), including the marketplace “Take” in equal shares (45%), 10% of the shares belong to the management company. After the sale of shares of Sberbank (MCX:SBER) Yandex will become the majority shareholder and will develop a business independently.
However, it is not clear how much of the “Yandex” will buy the share of Sberbank, has invested in SP 30 billion. Analysts had estimated “Yandex.Market” in 90-96 billion rubles For the redemption of “Yandex” can send the money attracted in the beginning of the year, posting bonds for $1.25 billion, said a source familiar with the company’s plans.
The e-payment service “Yandex.The money” will go to Sberbank, which now owns a 75% share, whereas the share of “Yandex (MCX:YNDX)” now accounts for 25%. Subsequently, “Yandex” will be able to develop new projects in the field of Finance alone, which is not entitled to do.
For independent project development “Yandex” plans to place up to 5% of its shares, which may participate VTB (MCX:VTBR) and Millhouse Roman Abramovich.
“Yandex” and VTB have been cooperating and preparing to launch the project “Yandex.Investments” is a service for Amateur investors to trade securities.
At the end of last year, the accounts of “Yandex” was about $1.43 billion Sale of 5% of the shares, based on the current capitalization of the company ($13.4 billion), could bring another $670 million
The decision to divorce, according to analysts, due to the fact that the joint projects of the two companies overlap or compete with the independent. For example, in conjunction with Mail.Ru Group Sberbank Razvitie projects online taxi and food delivery.
According The Bell, “Sberbank” does not refuse from the idea to create a “Russian Amazon (NASDAQ:AMZN)” and continues to think about buying a large online retailer, such as Ozon.