Yandex has signed an agreement to purchase Acropolis Bank, according to a press release from the company.
As a result of the transaction, the company will acquire the Acropolis licenses, including the universal banking license.
The availability of licenses will allow Yandex to develop the direction of financial services and launch new products for users and partners.
The transaction amount will be 1,1 billion rubles, of which 75 million – capital premium for a purchase. More 85% assets of “Acropolis” account for a portfolio of liquid securities and funds in accounts with the Bank of Russia.
The deal will be closed after approval by the Bank of Russia. Yandex submitted the corresponding petition to the bank on April 28.
Bank Akropol is ranked 330th among the largest banks in Russia in terms of assets – they are rated at 1,24 billion rubles.
Recall Yandex presented financial results for the 1st quarter of 2021.
Source: Yandex press release