Yandex buys Uber out of food-delivery, self-driving venture in $1-bn deal

Yandex NV is buying out Uber Technologies Inc.’s shares in its food tech, delivery and self-driving businesses in an all-cash deal valued at $1 billion. 
 

The Russian internet giant will own 100% of Yandex.Eats, Yandex.Lavka and Yandex.Delivery, as well as a self-driving venture that operates cars and drones, according to a statement Tuesday. 

Both boards have approved the deal, which is expected to close by year-end.

Yandex had been looking to buy out Uber for over a year as the coronavirus pandemic spurred rapid growth in the Russian market for delivery and food services. The industry has attracted large investments from competitors,