LONDON and MOSCOW, July 19, 2019: Morgan Lewis has advised Yandex NV, one of Europe's largest internet companies and the leading search provider in Russia, on the acquisition by MLU B.V. of the intellectual property and call-centers of the Vezet group in Russia. MLU is Yandex’s ride-sharing and food delivery joint venture with Uber.
The Vezet group was formed by the combination of the Saturn and Rutaxi business, and its ride-sharing service is available in more than 120 Russian cities under the Vezet, Taxi Saturn, Fasten, and Red Taxi brands. The sellers will receive a combination of MLU shares and cash.
The transaction is subject to regulatory approval and is expected to close by the end of 2019.
Partner Tim Corbett led the team advising Yandex. He was assisted by Moscow partners Dina Kzylkhodjaeva and Anastasia Dergacheva and a team of associates led by Valentina Semenikhina.
See the Yandex’s announcement on the transaction.