Media: Dutch Yandex NV can sell Russian assets in one transaction

The parent company of the Russian Yandex is Dutch Yandex NV – is considering options for selling all assets in Russia at one time. About it reports Reuters agency citing sources.

The deal could be completed before the end of the year. The Russian Yandex did not publicly comment on the information.

In the event of the sale of all assets in Russia that generate income, the Dutch parent company will be able to reimburse part of the shareholders’ funds. In the future, Yandex NV intends to develop four other business areas internationally, Reuters reports.

27th October “Yandex» published reporting, from which it follows that the company received permission from the Legal Commission for Foreign Investments in the Russian Federation for the internal restructuring of the group. The value of the Russian business was estimated at $5.5 billion, taking into account a 50% discount. Among the proposed investors is a group VTB“Lukoil“, businessmen Vladimir Potanin and Ivan Tavrin, founder of Faberlic and State Duma deputy from the New People party Alexey Nechaev, pension fund Gazfond, as well as CEO of the Russian Direct Investment Fund Kirill Dmitriev.

From the financial report of Yandex NV for the third quarter of 2023. shouldthat the total number of personnel for the year increased by 29% to 25,703 people. This happened, among other things, due to the expansion of project teams “Yandex.Search”, “Yandex.Market” and “Yandex.Cloud”.