Avto.ru will sell T-Auto for 35 billion rubles

Avto.ru will retain its own brand, team and will continue to develop as a separate service. This was reported by the Yandex press service.

“The transaction amount will be 35 billion rubles. After its closure, all assets of Avto.ru will be transferred to T-Auto – the service of advertisements for the sale of cars Avto.ru, the B2B platform “Avto.ru Business” and “eCredit” – a solution for digital car lending in dealerships,” the message says.

The deal is planned to be completed in a few months, after receiving all the necessary approvals. Further growth of Avto.ru will be associated with the expansion of financial services for participants in transactions and the creation of an ecosystem of comprehensive solutions for motorists.

Partnership with T-Technologies will allow Avto.ru to offer users a full range of solutions – from financial instruments for transactions to services for everyday use of cars.

Yandex emphasized that the company’s main focus remains on areas where the ecosystem and technology allow the business to scale significantly. Participation in the transaction will provide an opportunity to redirect resources to fast-growing technology segments, while maintaining a balanced portfolio in the interests of all parties.

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