(Bloomberg) -- Uber Technologies Inc. is speeding up the sale of its stake in a taxi joint-venture with Russian internet search company Yandex NV.

The ride-hailing giant will also remove Uber executives from the board of Yandex.Taxi, it said in a statement Monday. San Francisco-based Uber, which doesn’t hold any shares of the publicly traded Yandex entity, sold down a portion of its stake in the venture to about 29% in August, which was valued at about $800 million at the end of 2021. Uber said a single non-executive representative will help to oversee the remaining divestiture.

“In light of recent events, we are actively looking for opportunities to accelerate the sale of our remaining holdings and, in the meantime, will remove our executives from the board of the joint venture,” said Uber spokesman Noah Edwardsen. 

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