Yandex NV can sell all Russian assets at once – Kommersant
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The Dutch company Yandex NV is considering the option of selling all of its Russian assets, and not just a controlling stake. This was reported by Reuters citing three sources.
The deal, as the agency writes, is planned to be completed by the end of 2023. Over the past few months, the company has been restructuring to recoup some of its shareholders’ funds through the sale of its core Russian businesses. The company declined to comment.
Yandex announced its intention to divide its assets into Russian and international ones in November 2022. The company said it plans to provide a concrete plan by the end of 2023. In October 2023, Yandex announced that it had received “one of the necessary permits” for the division of assets from the Legal Commission for Foreign Investments. A Kommersant source noted that the authorities revised the parameters of the deal after Yandex co-founder Arkady Volozh condemned Russia’s military actions in Ukraine.
Read more in the Kommersant article. “The owner of Yandex will be responsible for his words”.
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