31 July 2017, 08:26 GMT
MOSCOW (Sputnik) — Sberbank will invest 30 billion rubles ($500.5 million) in the joint venture, according to therelease.
The agreement of intent reads that the firms will develop an e-commerce ecosystem including the purchase and sale of goods, including digital goods, as well as related products and services.
At the time of the transaction, the partners estimate the entire enterprise at 60 billion rubles ($1 billion) without account for the future synergy. The parties will have equal shares in the joint company.
