Sberbank has completed the acquisition of 75% of Yandex. Money

OJSC "Sberbank of Russia" and the company "Yandex" has completed the acquisition of the bank in the share capital of the company "Yandex" (75% minus 1 ruble). Blocking minority - 25% of the share capital plus one ruble - remains with the company "Yandex". The deal amounted to 60 million U.S. dollars. The main objective of cooperation - the development of innovative services for retail payments in the Internet, the company said. Key areas of joint work of the Savings Bank and Yandex: a universal payment solution for small and medium-sized businesses, simplification of regular payments and remittances in the network - both for Internet users and for the mass audience is offline. The first step has already been made ​​in the beginning of June, the commission canceled the Savings Bank ATMs and POS terminals at the completion Yandeks.Deneg c card of any bank. creation of new payment solutions Yandeks.Deneg handled by experts, based on the banking infrastructure Savings and Internet technologies Yandex. The head of the joint venture appointed Eugene Zavalishina, who heads the shops since 2006. The Board of Directors includes three representatives of Sberbank (Alexander Torbakhov, Denis Bugrov and Svyatoslav Ostrovsky) and two representatives of Yandex (Arkadiy Dobkin and Jane Zavalishina).