RBC found out a possible scenario for the Yandex section

The Dutch Yandex NV is considering several options for reorganizing the company in connection with the separation of the Russian business into a separate legal entity and the possible attraction of investors to its capital. About it writes RBC citing a source familiar with the negotiations and an international investor aware of the preparation of reorganization scenarios.

One of the possible scenarios for the division of Yandex, the source called the establishment of a Russian structure, 100% of which will belong to the founder of the company, Arkady Volozh. It can be registered in a special administrative region of Kaliningrad, the source said. According to this reorganization option, the mechanism of the “golden share”, which is owned by the Public Interest Fund, will receive a new Russian structure.

Within the framework of this company, a fund will be created, which can include those who have transferred to “Yandex” former Chairman of the Accounts Chamber Alexei Kudrin, ex-general director of the company Tigran Khudaverdyan, director of the business group of electronic commerce and logistics services Daniil Shuleiko and CEO of Yandex Artem Savinovsky. The fund will receive management of the Russian business for 5 years. This includes the right to vote with a controlling stake and appoint up to six representatives to the board of directors.

At the same time, the Dutch Yandex NV will receive licenses for the development of four projects abroad – drones, cloud technologies, the educational Yandex.Practicum and the Toloka data markup project. In addition, a possible payment of $300-400 million to the Dutch structure is being discussed.

According to another source familiar with the reorganization scenario, then 51% of the Russian business of “Yandex” will be sold to investors, and 49% will remain Yandex NV The composition of investors has not yet been determined, but a preliminary list has already been drawn up with whom the company’s management is ready to start negotiations, another source clarifies RBC. The broad list included 20 businessmen, among them the president of Interros and MMC “Norilsk Nickel» Vladimir Potanin, Chairman of the Board of PJSC «Novatek» Leonid Mikhelson, former co-owner of the Pipe Metallurgical Company and Sinara Dmitry Pumpyansky and others.

November 25, 2022 «Yandex» announced group assets section. The company mentioned that they are considering “the possibility of changing the corporate structure, in which the management of the selected group of companies will be transferred to the management of Yandex.”

Prior to that, The Bell (recognized as a foreign media agent in the Russian Federation) wrote about plans to create a new parent company for Yandex. Sources claimed that a specially created structure would be responsible for making key decisions in it, which would include the current top management of Yandex, and would head it transferred Aleksey Kudrin as Corporate Development Advisor to the company.