Yandex.Taxi Buys Rival Vezet in $200 Million Deal Prior to IPO

Yandex NV, Russia’s largest internet firm, is beefing up its ride-sharing business by taking over a rival in a deal worth about $200 million.

Yandex said in a statement July 15 that its ride-sharing unit MLU BV, part-owned by Uber Technologies Inc., agreed to acquire Russian rival Vezet Group for up to $71.5 million in cash and 3.6% of MLU new shares. The stake may be worth over $136 million based on the valuation announced in February 2018.

“This deal should strengthen Yandex’s ride-sharing business before the planned IPO,” said Sergey Libin, analyst of Raiffeisenbank in Moscow. “Having earlier combined ...