Yandex.Taxi wants to buy service "Lucky"
19.07.2019 0 Comments
However, the right to veto a deal can take advantage of Mail.Ru Group.
MLU B.V., a joint venture of Yandex.Taxi and a branch of Uber in the CIS countries, plans to buy the service Lucky, which is popular in the Russian Federation. It is about the acquisition of the entire volume of software and all control centers.
Today, "Lucky" works in more than 120 cities of Russia and manages taxi services not only under its own brand, but also under other recognizable brands, such as Taxi Saturn, Red Taxi and Fasten.
In Yandex.Taxi, they intend to further develop the taxi service in the Russian regions. For this, a program of spending 8 billion rubles over 3 years is provided for. Half of this amount will be used to improve the quality and safety of travel, as well as to support programs for taxi drivers and taxi companies. It is well known that the loyalty of employees in this area is very important.
According to Yandex.Taxi representatives, the users of applications and clients of taxi services themselves will not notice any difference for themselves – they will also be able to call cars through the familiar applications Lucky, RuTaxi or, in the old manner, using a call by phone.
Familiar phone numbers will remain. Changing applications to new ones in Yandex.Taxi will also not. But the usability and quality of support services, due to the arrival of big money, will certainly increase.
The cost of the transaction will be more than 71 million dollars. In addition, under the terms of the transaction, the shareholders of "Lucky" put 3.6% of the shares of "Yandex.Taxi".
The acquisition of "Lucky" should be completed before the end of 2019, if all parties agree. At the moment, the boards of directors of Yandex N.V. and Lucky, as well as the Yandex.Taxi management have already approved the deal. Now the word for the FAS (Federal Antimonopoly Service) of the Russian Federation and another Russian giant Mail.Ru.
It would seem, and where does Mail.Ru? The fact is that in 2018, Mail.Ru provided “Lucky” with a large loan, one of the conditions of which was the granting of the right to impose a veto on the alienation of the borrower's company assets.
The press service of Mail.ru Group said that the company does have veto power. So far, no agreement has yet been received from Mail.Ru. However, the company "Lucky" report that they are not going to violate the terms of the contract with Mail.Ru; All items will be unconditionally observed, according to company representatives.
Thus, if the Mail.Ru management does not approve the transaction, then Yandex.Taxi will not be able to acquire the service Lucky.
We will monitor developments and wait for further news related to this topic.
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Return to the beginning of the article. Yandex.Taxi wants to purchase the service "Lucky"