Baring Vostok, RTP Global to exit 2GIS

Under the deal, Sberbank will receive a 72% stake in 2GIS, O2O will get another 3% stake, while the founders and managers of 2GIS will retain a 25% stake in the company.

The valuation of 100% of the company's shares for the purpose of the transaction amounted to RUB 14.3bn ($208.3m).

The representatives of Sberbank and the founders of the service will become members of 2GIS board of directors.

The deal is subject to approval from the competition authorities.

Previous funding
In October 2015, Baring Vostok, along with ru-Net, structured an expansion round for 2GIS. The funding amounted to $40m. Both the investor groups acquired a minority stake in the company.

Company
Founded in 1999 and headquartered in Novosibirsk, 2GIS is a local search and city navigation service. The company has offices in 13 cities across Russia. It employs 751 people, according to LinkedIn.

People
Sberbank – Herman Gref (CEO, chairman of the executive board).
2GIS – Alexander Sysoev (founder).

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