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Yandex Buys Uber Out of Food-Delivery, Self-Driving Venture (2)

Aug. 31, 2021, 1:45 PM

Yandex NV is buying out Uber Technologies Inc.’s shares in its food tech, delivery and self-driving businesses and has an option to purchase the remainder of their joint venture in a deal that could reach $3 billion.

The Russian internet giant will get 100% of Yandex.Eats, Yandex.Lavka and Yandex.Delivery, as well as a self-driving venture that operates cars and drones in a $1 billion cash deal, according to a statement Tuesday. It will also receive a call option to acquire Uber’s remaining interest in their ride-hailing and car-sharing business.

Both boards have approved the deal, which is expected to ...