Russian Sberbank bought Yandex’s share in Yandex.Money

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Estimated transaction amount is 2.4 billion rubles

Russian Sberbank bought Yandex.Money’s share of Yandex. Photo: retail- loyalty.org

State Bank Sberbank of the Russian Federation has closed a deal with the Yandex search engine to buy its share in the Yandex.Money service. it is reported Meduza With reference to the data of the Spark system.

25% of Yandex’s service was transferred to Sberbank’s structure – Digital Assets LLC. State Bank itself owns a 75% payment system. The amount of the transaction was not disclosed, with the Russian search engine temporarily estimating 2.4 billion rubles (about 929 million dollars).

At the same time Yandex plans to buy Sberbank’s stock in Yandex.Market. The 42 billion ruble ($ 16.3 billion) deal is due in the third quarter of 2020. Thus, the bank and company ended the partnership they had entered into in 2017, reports Meduza.

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Earlier we wrote that the National Bank of Ukraine has commented on the allegations of prosecution of Ukraine when the termination of the import contract with non-residents regarding possible misconduct by the employees of Ukrainian Sberbank and NBU.

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