Yandex buys for 175 million dollars Auto.ru

Yandex announces the purchase of one of the most popular Russian automotive portals Auto.ru - after closing 100% of the shares will go Auto.ru Yandex. It is expected that this will happen in the third quarter of 2014. Estimated transaction amount - U.S. $ 175 million. Yandex plans to further develop the portal, which will continue to work at the same address - auto.ru.

“Auto.ru - the most authoritative resource on avtotematike, - says Alexei Tretyakov, vice president of commerce Yandex. - Members traditionally turn to him on any matter relating to buying or owning a car - whether manual or board repair parts search , discussion of new products or automotive buying or selling your vehicle. Auto.ru At the same time the most complete and current base of offers to sell cars - new and used, is a recognized leader in the category avtoobyavleny. Acquisition Auto.ru - a good way to expand the Yandex in response to users’ questions and help solve their urgent problems. ”

Auto.ru in Russia has the largest database of the sale of cars and other vehicles. It includes about 400,000 individual ads and dealers that offer used and new cars, parts and accessories. There is also on Auto.ru description Car owners reviews, news and forums. Service was created in 1996 by a group of enthusiasts who organized Russia’s first online community of motorists.

Yandex legal advisor in the transaction is the company WilmerHale. Financial advisor Auto.ru became VTB Capital, and legal - Squire Patton Boggs.

16 June 2014

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