Yandex to acquire a 45% stake in Yandex.Market from Sberbank for $607m.

Yandex, a Russian multinational corporation, is set to acquire a 45% stake in Yandex.Market, an e-commerce and trading platform from Sberbank, a state-owned Russian banking and financial services company for $607m. “We see great strategic potential in the full integration of e-commerce services into the Yandex ecosystem, unlocking significant synergies between Yandex.Market and other Yandex services. We aim to make Yandex.Market one of the leading e-commerce players in Russia, by significantly expanding its assortment, making ordering quick and easy, ensuring faster delivery times, and leveraging our existing logistics infrastructure, as well as our technological knowhow," Tigran Khudaverdyan, Yandex Deputy CEO.