Yandex plans to close the first stage of the sale of Russian business by April 30

Parent company of Yandex (MOEX: YNDX), the Dutch company Yandex NV, plans to complete the first stage of the transaction to sell Russian assets to a consortium of investors by April 30. The company’s press service reported this. The company added that it has received all the necessary permits to complete the transaction.

“The transaction and the accompanying changes in the corporate governance structure have already been approved by the shareholders of Yandex NV, all permits have been received from regulatory authorities in Russia, including from the Government Commission for the Control of Foreign Investments and the Federal Antimonopoly Service,” the statement says. message. The Russian business will be sold for 475 billion rubles.

After completion of the transaction, the parent company will be MCPAO Yandex. It will retain the businesses, services and assets of the Yandex NV group, except for foreign startups Nebius, Toloka, Avride and TripleTen, as well as a data center in Finland. On March 11, it became known that MKPAO “Yandex” intends apply for listing of shares on the Moscow Exchange. The dividend policy has already been approved by the company’s board of directors, but its details have not been disclosed.

Evgeny Belousov