A number of Telegram channels today disseminated information that the Russian IT corporation has decided to take over another
Back in 2019, they wrote about the likelihood of such a dealVedomosti and a number of other media. Oleg Tinkov himself has long proposed to representatives of «Yandex» merger. It is worth noting that already this summer it became known about negotiations between Yandex and VTB on the creation of a single financial product. In addition, it turned out that Yandex received the rights to the trademarks YaBank, YaCredit, YaBroker, YaVklad, etc. For a long time, the IT corporation has been gravitating towards creating ecosystems and the creation of its own financial sector is the next logical step.
This is not Yandex's first major purchase. In 2017, the merger of Yandex.Taxi and Uber was named the deal of the year according to Forbes.
How the deal itself will be concluded, to the lastthe moment was unclear. Basically, two options were considered: either the purchase of 50% of the shares, with the rest of the bank being acquired through monetary compensation, or the acquisition of 100% of the shares.
On Tuesday evening, Yandex made a preliminary agreement on the purchase of the TCS Group, which includes Tinkoff Bank. Deal value - $ 5.5 billion.
The parties came to an agreement in principle ontransaction, which will consist of cash and stock consideration of approximately US$5.48 billion, or US$27.64 per Tinkoff Bank share.
The final conditions depend onthe satisfactory completion of the due diligence and agreement of the final documentation, including agreement on the terms of closure. However, judging by the official release, "there can be no assurance that any firm offer will be made to the company, nor about the final conditions on which any firm offer may be made."
Yandex shares are creeping up after the announcement of a deal with Tinkoff
A few minutes after publicationofficial release of TCS Group Holding PLC about the Tinkoff Bank transaction, Yandex shares soared sharply. Despite the fact that Yandex shares are already expensive, even greater growth is expected against the backdrop of news of a $5.5 billion deal.
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