July 15, 2019 / 7:27 AM / in 7 months

Yandex, Uber JV to buy Vezet group call centres in Russia

July 15 (Reuters) - Russian internet company Yandex NV said on Monday its ride-sharing and food delivery joint venture with Uber Technologies Inc had agreed to buy intellectual property and call centres of Vezet group in Russia.

MLU BV, the joint venture, plans to invest about 8 billion roubles ($127.2 million) in the Russian regions over the next three years, Yandex said in a statement.

Current shareholders of Vezet will receive new shares in MLU, representing up to 3.6% of issued share capital of the company, together with up to $71.5 million in cash, Yandex said.

Yandex will own 56.2% of MLU post the deal, Uber will own 35.0%, while about 5.3% will be held by employees under the MLU equity incentive plan.

$1 = 62.8844 roubles Reporting by Rama Venkat in Bengaluru; editing by Gopakumar Warrier

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