LONDON: Mail.ru Group, USM, Ant Group, Russian Direct Investment Fund (RDIF) and MegaFon announced that they have signed binding agreements to create a payments joint venture (PJV) and a financial services joint venture (FSJV). The announcement follows the signing of non-binding term sheets in 2019, when the parties announced a partnership to promote financial inclusion…
Tag: Mail.ru
Mail.ru and Sberbank inject RUB 12 billion into O2O JV
MOSCOW: The O2O joint venture between Mail.ru Group and Sberbank focused on transportation and food has been provided with an additional RUB12bn of capital from Mail.ru Group and Sberbank on a pari passu basis. The management of the O2O JV is confident about the prospects of not only restaurant delivery, but also egrocery, dark kitchens…
Sberbank and Mail.ru Group have agreed on strategic cooperation
MOSCOW: Sberbank and Mail.ru Group have agreed on strategic cooperation and signed binding paperwork to partner in mobility and food-tech. Sberbank has also signed binding documents to acquire a 36% shareholding in MF Technologies. The parties are set to leverage their expertise to boost the development of digital economy and AI-powered products in Russia. The…
Sberbank & Mail.ru to build food and transportation O2O
MOSCOW – Sberbank and Mail.ru Group plan to create a leading Russian O2O (online-to-offline) services platform focused on major consumer markets, the key areas of food and transportation. Sberbank and Mail.ru Group plan to invest up to RUB 64 billion in the JV on the condition that key performance indicators are achieved over the 12-month…