O2O Holding, a foodtech and mobility JV between Sber and VK, and People&People – an asset management company with Gruzovichkof, Taxovichkof and other businesses in its portfolio – have signed legally binding documents on the sale of Citymobil assets. The deal is scheduled to be closed in the second quarter of 2022.
The agreement stipulates that People&People is buying part of the Citymobil assets. The value of the deal is not disclosed. It will encompass the Citymobil tech platform, the brand, and the channels utilized to attract customers.
The deal will position Taxovichkof to boost its share in the market for taxi aggregators and expand its geographic footprint, including in all of Russia’s cities with population of one million and above. The move should make taxis more affordable for urban residents.
The Citymobil passenger application and the Citystart application for drivers will remain up and running after April 15. Some Citymobil employees might migrate to the buyer – they will be offered new positions with People&People.
As announced earlier, the legal entity OOO City-Mobil will be closed. The Citydrive carsharing service and the fuel platform will continue their operations as part of the Sber-VK O2O Holding.