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16 I Companies & Markets bne July 2020
negotiate "leasing holidays" for its partner taxi companies, Vedomosti reported.
According to the report, all taxi companies connected to Yandex.Taxi will be able to cut their leasing payments by 50% to 80% for a period of up to three months. Other support measures include delays in leasing payments and cancellation of late payment fees.
Vezet deal scrapped
In late March, Yandex.Taxi put a brake on the acquisition of another taxi company, Vezet.
As profiled by bne IntelliNews in February 2019 before the deals were announced, Vezet is one of Russia’s biggest regional taxi players and would have strengthened Yandex.Taxi’s business to the east of the Ural Mountains.
In late 2019, Yandex planned to snap up Vezet from its rival Mail.ru in a deal that would have included 3.6% equity and
Plenty of jabber on the Borsa Istanbul but talk of Naturelgaz IPO not idle
Akin Nazli in Belgrade
Turkey’s Global Yatirim Holding is planning an initial public offering (IPO) by September at the latest for its 95.5%-held liquefied natural gas (LNG) sales subsidiary Naturelgaz, business daily Dunya quoted the holding’s chairman, Mehmet Kutman, as saying on June 17.
Naturelgaz, established in 2004, accounts for a 20% share
in Turkey’s LNG market. It recently signed a share purchase agreement to buy 100% of Socar Turkey LNG, the newspaper also noted.
In January, Global Yatirim Holding applied to Turkey’s Capital Markets Board (SPK) to float Naturelgaz shares.
On June 18, Kutman spoke with BloombergHT, confirming that the company would go ahead with a Naturelgaz stock market debut “very soon”.
He added that Global Yatirim Holding was considering delisting its Global Ports Holding (GPH) from the London Stock Exchange (LSE) in time but that he was yet to discuss this proposal with the board of directors. The holding was
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$71.5mn in cash. With a market share of about 12%, Vezet was expected to significantly strengthen Yandex.Taxi's position.
It was not clear whether the cancellation of the deal was linked to the coronavirus (COVID-19) pandemic and ensuing lockdown measures.
Vezet was established in 2017 in a merger of Fasten Russia, Saturn, Red Taxi, RuTaxi, Lider and Vezet operators. The company operates in over 100 cities in Russia, Kazakhstan and the Czech Republic, processing over 1mn orders a day.
In 2017 the group had 12.3% of the Russian taxi market, which was larger than the 10.4% joint share of Yandex.Taxi and Uber prior to their merger of regional operations.
This article is part of bne IntelliNews coverage of technology, blockchain, fintech, cryptocurrencies and the new economy. Sign up for the free monthly newsletter bneTech, or read more tech stories on www.intellinews.com/tech.
also in talks with a Middle East-based semi-public institution for Antalya Port, Kutman noted.
Global Yatirim Holding listed GPH on the LSE in 2017.
Also on June 17, Bloomberg reported bus operator Metro Turizm was planning an IPO, which would involve offering 50% of the company.