The Bell: Yandex plans to buy Acropolis bank

MOSCOW, 12 Mar – RIA Novosti. The Russian IT company Yandex is negotiating the acquisition of Akropol Bank, which was owned in 2020 by the general director of the Svyaznoy group, Evgeny Davydovich, writes The Bell, citing sources.

Four sources in the payment and banking markets told the publication that Yandex is preparing to buy the bank. Two of them say the company considered different options, but settled on the Acropolis bank.

The deal is now at the due diligence stage, and in the coming days the company and the bank are preparing to sign a purchase and sale agreement, two sources say to The Bell.

“We are interested in obtaining a banking license. We are considering all available options,” – the press service of “Yandex” told RIA Novosti.

As the newspaper writes, the parties did not disclose the amount of the possible transaction. According to one of the interlocutors of the publication, in fact, Yandex is not buying a full-fledged bank, but a banking license, and the company has no plans to open branches or issue loans.

“Acropolis” is a universal lending and financial institution providing a full range of banking services. The bank was founded in 1994.

Author: wedocount

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