Yandex.Taxi Looks for Investor

27 April 2017 (17:10)

UrBC, Yekaterinburg, April 27, 2017. JP Morgan is currently coordinating a deal to find an investor for Yandex.Taxi, Kommersant refers to it sources within the investment community as stating.

According to one of the sources, the company ‘is trying to find around $150 to $200m.’ Yandex.Taxi has held talks with a number of European and Asian investors, primarily with those already investing in online taxi services such as Softbank Capital and Tiger Global.

‘There is only a limited number of Russian investors who could write a check this big; Baring Vostok and the Russian Direct Investment Fund are among those,’ the newspaper source said.

It is reported that Yandex.Taxi also negotiated a deal with Sberbank, even though the latter did provide a $100m loan to the former’s key competitor Gett at the end of last year. Once Gett had been given $300m from Volkswagen, Yandex.Taxi also grew interested in attracting investments from carmakers, including, for example, Hyundai Motor.

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