Sber, Mail.ru invest 12.2 bln rbl in delivery, transport JV

MOSCOW, Oct 7 (PRIME) -- Russia’s bank-turned ecosystem Sber and Internet holding Mail.ru Group have additionally financed O2O, a joint venture in food delivery and transport, with 12.2 billion rubles in equal parts and expect the core assets to break in two to three years, the companies said on Thursday in a joint statement.

The additional money will be invested in further development of the joint venture’s assets, “including in improvement of technologies and recruiting of new employees.”

After the new round of funding, presented as a shareholder capital, Sber and Mail.ru Group’s shares will remain equal by 45.01%.

(72.5682 rubles – U.S. $1)

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