LUKOIL’s share in Yandex will be about 10% – Kommersant
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LUKOIL (MOEX: LKOH) confirmed participation in the deal to restructure Yandex (MOEX: YNDX). The oil company’s share will be about 10%.
“The transaction will be closed after receiving the necessary approvals and will be implemented without the participation of shareholders of PJSC LUKOIL and related parties. After the transaction is closed, the LUKOIL Group’s share in Yandex will be about 10%,” the company said in a statement.
LUKOIL will participate in the transaction as part of a consortium of investors. The oil company called the acquisition of a stake in Yandex a portfolio venture investment that will contribute to the development of high-tech solutions and increased efficiency.
Previously Dutch Yandex NV concluded deal to sell Yandex for 475 billion rubles. The parent company of Yandex will be MKAO Yandex, the main owner of which will be the closed mutual investment fund Consortium.First. Until July 31, Yandex NV will change its name and stop using Yandex brands. Artem Savinovsky will remain CEO. Against the backdrop of this news, the company’s shares on the Moscow Exchange fell by more than 9%.
About the discussed options for reorganizing the company – in the material “Kommersant FM” “A Deal with Many Unknowns”.
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