TECH

Sberbank and Yandex can split joint ventures “money " and "market" 

Sberbank and Yandex are negotiating the termination of partnerships in their joint ventures, Yandex.Money and Yandex.Market. This was reported by The Bell, noting that a statement about the termination of the partnership may occur in the coming weeks.
According to the available data, as a result of the termination of the partnership in these projects, Yandex will redeem the bank's share in Yandex.Market and Sberbank will get the shares of the IT company on Yandex.Money.
The source says that Yandex intends to buy back a stake in Sberbank in the Yandex joint venture.Market, which includes the e-commerce platform and the Beru market. At the moment, partners own 45% of the shares of the company, and another 10% of the securities are in the hands of management. It is expected that as a result of the reorganization, Yandex will become the only large shareholder of the platform, while some of the shares will belong to the company's management. As for Yandex.Money, this company will belong only to Sberbank. Currently, Yandex owns 25% of the service, and the remaining three-quarters of the Securities belong to Sberbank. It should also be noted that since the sale of 75% of Yandex.Money to Sberbank, the IT company could not independently develop other fintech projects, but after the end of the partnership this restriction will cease to be relevant.
The representative of Yandex said that the company is considering the possibility of restructuring its property in joint ventures. So far, Sberbank and VTB have refrained from commenting on this matter.

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