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Press Release

Morgan Lewis Advising Yandex on $1B Acquisition of Interests in Businesses from Uber

September 07, 2021

LONDON and MOSCOW, September 7, 2021: Morgan Lewis is advising Yandex on the restructuring of the ownership of its MLU and Self-Driving joint ventures with Uber, which will see Yandex own 100% of the Yandex.Eats, Yandex.Lavka, Yandex.Delivery and Self-Driving businesses, for consideration of $1.0 billion in cash. Yandex has also received an option to purchase Uber’s remaining stake in MLU over a two-year period for approximately $1.8 billion in cash.

Yandex is one of Europe's largest internet companies and a leading search and ride-hailing provider in Russia.

The cross-border Morgan Lewis team advising Yandex includes partners Tim Corbett, Nick Moore, Ksenia Andreeva, Omar Shah, and Anastasia Dergacheva, and associates Ben Davies, Abbey Brimson, and Leonidas Theodosiou.

For more, see Yandex’s announcement.