Forbes: Volozh offered Kudrin 5% of Yandex for help in separating assets
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According to sources close to the Internet company, Volozh plans to separate the unmanned business line into a separate legal entity and develop it abroad. At the same time, the rest of the assets will remain in Russia. Kudrin should help him in this matter, for which he will receive 5% of the company.
It is clarified that the complexity of the separation of assets lies in the fact that “Yandex“cannot transfer intellectual rights to another legal entity, writes Forbes. According to a RBC source, in mid-September Kudrin met with Russian President Vladimir Putin, they agreed on the transfer of rights to developments in the field of drones to the “western” Yandex. Later, presidential press secretary Dmitry Peskov refuted information that Kudrin asked Putin for permission to move from the Accounts Chamber to Yandex.
It is not known what kind of shares Kudrin can get – supervoting or ordinary. Forbes sources specify only that the share will be received through an option. According to the publication’s calculations, taking into account the capitalization of Yandex (as of September 23, it is $6.51 billion), Kudrin can receive about $325 million. Now Yandex’s shares are traded only on the Moscow Exchange, before papers could be bought on Nasdaq, however, with At the end of February, the exchange suspended trading in securities of a number of Russian companies, including Yandex.
According to another source close to Yandex, Kudrin may even head the company. Volozh gone from the post of CEO of the company and stepped down from the board of directors in early June – after sanctions were imposed on him.
We have been talking about the possible division of Yandex’s business into Russian and international for several months. In particular, at the end of July, The Bell informed about a possible division of Yandex’s assets with Volozh, who has been living in Israel for several years. In particular, they discussed the development of projects abroad for the development of drones, “clouds” and the educational service “Yandex.Practicum”. It was noted that the services will continue to operate in Russia, but the company will share some of the rights for their development abroad.
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