Yandex, VK agree to swap Zen, New platforms for Delivery Club

Yandex, VK agree to swap Zen, New platforms for Delivery Club

Russian Internet companies VK and Yandex have signed binding agreements under which VK will acquire the Zen and News content platforms from Yandex in exchange for food and grocery delivery service Delivery Club, the companies announced.

The asset swap between VK and Yandex will be a cashless deal, Yandex told Interfax.

The transactions are expected to be closed by the end of the year, subject to approval by the Federal Antimonopoly Service.

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