Uber Technologies Inc. is handing over the keys to its business in Russia.
The San Francisco-based company and Yandex NV are merging their ride-hailing businesses in Russia. Uber will invest $225 million and take a 36.6 percent stake in a new, yet-to-be named venture that will be valued at $3.73 billion, the companies said in a statement July 13 . The shares of Yandex, which will invest $100 million and own 59.3 percent of the new enterprise, jumped as much as 15 percent in Moscow to 1,881 rubles, its highest level ever.
