Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Yandex N.V.
  6. News
  7. Summary
    YNDX   NL0009805522

YANDEX N.V.

(YNDX)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Yandex N : takes more control of Russian venture with Uber in $1 bln deal

08/31/2021 | 03:05am EDT
FILE PHOTO: An Uber logo is seen in Redondo Beach, Los Angeles

MOSCOW, Aug 31 (Reuters) - Russian internet giant Yandex said on Tuesday it would buy Uber's stakes in their joint foodtech, delivery and self-driving businesses, and increase its stake in their ride-hailing joint venture as part of a $1 billion deal.

The restructuring of the MLU ride-hailing and car sharing joint venture, which includes Yandex.Taxi, will see Yandex own 71% while Uber's stake falls to 29% from 33.5%, Yandex said, adding it had taken out a $2 billion call option to buy out the rest if it chooses to do so.

In July, Yandex increased its e-commerce investment plan this year to $650 million, from $400-500 million, after reporting strong second-quarter results and upgrading its 2021 revenue forecast and as surging interest in online services continued after being boosted during the coronavirus pandemic. The company forecasts e-commerce GMV to jump threefold this year.

Under the agreement with Uber, Yandex will take over Uber's 33.5% indirect interest in Yandex.Eats, Yandex.Lavka and Yandex.Delivery as well as its 18.2% interest in Yandex Self-Driving Group (SDG), giving Yandex 100% ownership in all businesses.

Uber could not be immediately reached for comment.

The restructuring, which Yandex said had already been approved by the boards of directors of Yandex and Uber, will be implemented in two stages, and completed by the end of the year. The deal will be financed from the company's own funds, Yandex spokesperson Asya Panoyan told Reuters.

The consolidation will allow assets to "interact more closely with Yandex.Market and strengthen each other," Panoyan said.

Yandex had $2.9 billion in cash and deposits at the end of the second quarter, according to BCS analyst Maria Sukhanova. "It might though need some extra funding if and when it decides to exercise the option for Uber’s stake in MLU BV," she said in a note.

Yandex said it will also extend its license for the exclusive rights to use the Uber brand in Russia and several other countries until August 2030, assuming the exercise of the option.

Uber and Russia’s Yandex combined their ride-sharing businesses in Russia and neighboring countries in 2018. Yandex said in June last year that it was interested in taking full control of Yandex.Taxi ride-hailing service and was talking to Uber about potentially increasing its majority stake. (Reporting by Gleb Stolyarov and Anna Rzhevkina Editing by Mark Potter, Louise Heavens and Susan Fenton)


© Reuters 2021
All news about YANDEX N.V.
10/18CLOUDFLARE : Says It Will Work With Microsoft, Other Companies to Improve Search Results
MT
10/15YANDEX N : Employees Win International Collegiate Programming Contest
PU
10/14Russia's Yandex joins London's e-grocery market
RE
10/14London's newest online grocery delivery app comes from Russia with love
RE
10/13Yandex to Announce Third Quarter 2021 Financial Results on October 27th
DJ
10/13YANDEX N : Snaps Up Electric Scooter Rental Group To Boost Israel Expansion
MT
10/08Russia's Delimobil discloses strong revenue growth in U.S. IPO filing
RE
10/08YANDEX N : Russia's Delimobil discloses strong revenue growth in U.S. IPO filing
RE
10/06YANDEX N : Releases New .Station Mini and .Module
PU
09/28Magnit reaches a mark of fifty thousand online orders a day
DJ
More news
Analyst Recommendations on YANDEX N.V.
More recommendations
Financials
Sales 2021 341 B 4 803 M 4 803 M
Net income 2021 -6 367 M -89,8 M -89,8 M
Net cash 2021 138 B 1 950 M 1 950 M
P/E ratio 2021 -225x
Yield 2021 -
Capitalization 1 936 B 27 363 M 27 297 M
EV / Sales 2021 5,28x
EV / Sales 2022 3,90x
Nbr of Employees 11 864
Free-Float 87,2%
Chart YANDEX N.V.
Duration : Period :
Yandex N.V. Technical Analysis Chart | YNDX | NL0009805522 | MarketScreener
Technical analysis trends YANDEX N.V.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Last Close Price 5 402,12 RUB
Average target price 6 339,76 RUB
Spread / Average Target 17,4%
EPS Revisions
Managers and Directors
Arkady Volozh Chief Executive Officer & Executive Director
Svetlana Demyashkevich Chief Financial Officer
John Wilson Boynton Non-Executive Chairman
Vadim Marchuk Chief Operating Officer
Charles Emmitt Ryan Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
YANDEX N.V.9.72%27 363
ALPHABET INC.61.78%1 894 640
BAIDU, INC.-16.32%62 985
NAVER CORPORATION39.32%51 600
Z HOLDINGS CORPORATION12.32%46 638
SOGOU INC.9.82%3 471