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Yandex Acquires the Parent Company of Tinkoff Bank
25.09.2020 23:33
Yandex Acquires the Parent Company of Tinkoff Bank

Yandex has reached a preliminary agreement to acquire TCS Group, the parent company of Tinkoff Bank. The press service says that it is about the possible acquisition of 100% of the company's share capital.

      The parties came to an agreement in principle on the deal. It implies remuneration in the form of cash and Yandex shares totaling about $ 5.48 billion, or $ 27.64 per Tinkoff share, Yandex reports.

      It is noted that the deal must still be approved by the owners of Yandex shares of class A, as well as the company's shareholders.

Author: Anna Dorozhkina

Tags: Yandex Russian banks    

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