Yandex has closed a deal to buy Acropolis Bank. As a result, the company became a 100% shareholder of the bank and received all Akropolis licenses, including universal banking.
The deal was closed after the approval of the Bank of Russia. Yandex submitted the corresponding petition to the bank on April 28. The transaction amount was about 1.1 billion rubles, of which 75 million was a premium to the capital for the purchase.
As Yandex previously reported, Acropolis licenses will allow the company to develop financial services and create new products for users and partners.
In the fall of last year, Yandex was negotiating the purchase of Tinkoff-Bank, but the deal did not take place by agreement of the parties.
We also note that in the spring of 2020 Yandex submitted applications for registration of 17 trademarks related to financial services, including YaBank, YaKredit, YaBirzha, YaBroker, YaVklad, YaKapital, YaStrakhovka, YaSchet, YaPortfolio, YaSberezheniya, YaSaif, YaValuta, YaTrade, YaAktsii, and YaKash.