Shareholders of “Yandex” approved the accession of several “daughters” to the parent company in the Netherlands
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Yandex shareholders approved the merger of several subsidiaries with the parent company Yandex NV, registered in the Netherlands. The company notes that this is done to simplify the structure of Yandex before the planned division of the business.
“In particular, a decision was made to take over such legal entities as Yandex Media Services BV, Yandex.Classifieds Holding BV, MLU BV and Foodtech & Delivery Ops BV. structure, the company said earlier. The changes will not affect the group’s restructuring plans, ”Yandex says in a statement (quoted from “Interfax”).
Also during the meeting, the shareholders re-elected Alexei Yakovitsky, who headed VTB Capital, to the board of directors for four years. The remaining six directors have not expired at the time of the meeting.
In addition, Yandex informedthat Alexander Balakhnin, who previously headed the segment of e-commerce, mobility and delivery, was appointed the new financial director of the company. Former group financial director Svetlana Demyashkevich will take the position of senior vice president for finance of the Dutch holding company Yandex NV
Changes in the structure of Yandex were announced in November 2022. The company planned to leave behind the parent company Yandex NV, registered in the Netherlands, international projects in the field of cloud technologies, and sell the rest of the services.
According to Bloomberg, billionaires Vladimir Potanin and Vagit Alekperov offered to buy a controlling stake in Yandex. According to the agency, behind the businessmen is a group of investors, which also includes Roman Abramovich and representatives of VTB. A 51% stake in Yandex was valued at $7 billion to $7.5 billion.
Now the main shareholder of Yandex is Arkady Volozh’s LASTAR Trust (8.5% of the capital and 45.1% of the votes). 87.9% of the capital (46.5% of votes) are in free float. After the introduction of EU sanctions against Arkady Volozh, his trust stopped making decisions on voting shares.
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