Yandex In Talks To Buy Tinkoff For About $5.48 Bln

(RTTNews) - Yandex N.V. (YNDX) confirmed that it is in discussions with TCS Group Holding Plc or Tinkoff regarding a possible offer by Yandex for 100% of the share capital of Tinkoff.

The companies said they have come to an agreement in principle on a transaction that would consist of cash and share consideration worth about $5.48 billion or $27.64 per Tinkoff share.

The offer price would represent a premium of about 8.0% to the closing price per Tinkoff GDR of $25.60 on September 21.

The final terms of the deal will depend on the results of due diligence, the companies said in a statement.