Rami Levi in talks to buy Yango

Rami Levi Chain Shops Hashikma Advertising 2006 (TASE: RMLI) is in superior talks on the acquisition of Yango, the taxi hailing and supply service of Russian firm Yandex, “Globes” has realized. The enterprise has been on supply for the previous yr, following the choice by Yandex founder Arkady Volozh to separate the corporate’s computing and software program enterprise from its retail enterprise.

A number of businesspeople have held talks with Yango, amongst them Japanika restaurant chain and Beitar Jerusalem soccer membership proprietor Barak Abramov, however it will seem that, at this stage, the negotiations with Rami Levi are displaying probably the most promise.

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Yango’s enterprise consists of an internet taxi-hailing service that competes with Gett, electrical scooter rent service Wind, and Yango Supply. The asking value is within the lots of of thousands and thousands of shekels, with the taxi-hailing app alone estimated to be value NIS 200-250 million. If the acquisition goes forward, Rami Levy will add to his enterprise empire, which extends from the grocery store chain that bears his identify to airline Israir, a taxi and groceries supply service.

Levy himself stated: “The corporate is a public one and stories in accordance with developments.”

Yango has at all times denied that it was on the market. In response to an enquiry from “Globes”, the corporate stated, “No negotiations are happening with Rami Levi on the sale of Yango’s enterprise in Israel. The corporate is rising and could be very profitable in Israel and has change into a important participant in its varied markets. Naturally, as a part of this progress, once in a while we focus on skilled collaboration with different Israeli corporations.”

Revealed by Globes, Israel enterprise information – en.globes.co.il – on August 10, 2023.

© Copyright of Globes Writer Itonut (1983) Ltd., 2023.