Yandex (YNDX) and Uber (UBER) have agreed to restructure the ownership of their joint ventures, MLU B.V. and Yandex Self-Driving B.V. Under the agreement, Yandex will own 100% of Yandex Eats, Lavka, Delivery and Self-Driving Group businesses. Yandex will also receive an additional 4.5% interest in the newly restructured MLU B.V., giving Yandex and its employees a total of approximately 71% ownership in the joint venture. The total consideration would be $1.0 billion in cash.
Yandex also gets a two-year American call option to acquire the remaining 29% of Uber's interest in the newly restructured MLU B.V. at a strike price of $1.8 billion, subject to agreed increases over the option period.
Yandex will get an extension of the license for the right to use the Uber brand in Russia and certain other countries until August 2030.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.