Home Merger & Acquisitions Yandex.Money Purchased by Russia’s Largest State-Owned Bank
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Yandex.Money Purchased by Russia’s Largest State-Owned Bank

Towards the end of 2012 Sberbank, the largest state-owned bank in Russia, purchased 75 percent stake in the online payment service Yandex.Money which was valued at $60 million. Yandex, the most popular search engine in Russia, was seeking investors as they were unable to expand the fast growing online payment service on their own.

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