The decision on VTB’s participation in the purchase of Yandex will be made after negotiations
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VTB Bank is interested in buying a stake in Yandex, but the final decision will be made after negotiations on the size of the stake and the amount of the transaction, the press service of VTB said. Former head of VTB Andrey Kostin informedthat the bank joined the consortium of investors who plan to acquire Yandex.
“VTB is interested in buying a stake in the Russian Yandex as part of a consortium, has submitted a relevant application, but the final decision on the bank’s entry into the deal will be made following negotiations on the share, amount and other conditions,” the bank said in a statement.
VTB is interested in buying a stake in the Russian Yandex as part of a consortium, and has filed a corresponding application, but the final decision on the bank’s entry into the deal will be made following negotiations on the share, amount and other conditions.
Agency Bloomberg citing sources, it reported on May 19 that billionaires Vladimir Potanin and Vagit Alekperov offered to buy out a controlling stake in Yandex. According to the agency, a group of investors is behind the businessmen: it includes Roman Abramovich and representatives of VTB, it may also include Severgroup CEO Alexei Mordashov. A 51% stake in the company was valued at $7 billion to $7.5 billion.
By data analysts, the transaction will be closed at the end of 2023 – the beginning of 2024. Andrey Kostin today, answering a clarifying question whether the issue of buying a stake in Yandex can be resolved before the end of the year, answered: “I think that of course.”
Changes in the corporate structure of Yandex were announced in November 2022. The company planned to leave international projects in the field of cloud technologies behind the head structure of Yandex NV, and sell other services, in particular, search and advertising. Now the main shareholder of Yandex is Arkady Volozh’s LASTAR Trust (8.5% of capital and 45.1% of votes). 87.9% of the capital (46.5% of votes) – free float.
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