Sberbank and Mail ru Group to create a strategic partnership focusing on major Russian consumer markets.

Sberbank and Mail ru Group announced a plan to create a strategic partnership focusing on major Russian consumer markets of food and transportation. Financial terms were not disclosed. “Investing in this O2O platform is an important step in building Sberbank’s ecosystem. We are entering the largest and most dynamic markets in Russia to offer our clients a brand new model for consuming services and to establish a leading national last-mile delivery player. Our future JV consists of fast-growing companies that have impressive potential and strong management, and are backed by the expertise of two of the country’s largest ecosystems and unprecedented client coverage,” Herman Gref, Sberbank CEO and Chairman of the Executive Board.