Yandex will offer investors three options for preserving assets - Kommersant
Yandex, as part of the division into a Russian and an international company, will offer investors a choice of three options: retain a stake in the Russian business, receive monetary compensation, or receive a stake in international start-ups. This was reported Bloomberg with reference to sources.
According to the agency, the board of the Netherlands-based parent company Yandex NV discussed the terms of a possible sale of 51% of Russian assets worth between $7 billion and $7.5 billion on May 24. However, no final decision has been made yet. According to Bloomberg interlocutors, about 20% of the company is owned by Russians who can trade on the Moscow Exchange.
“If the sale of a stake in the Russian business goes through and local shareholders agree to the exchange, Yandex NV will own approximately one-third of the Russian division,” the agency quoted sources as saying. Approval of the transaction requires the consent of at least 66% of shareholders, who are likely to have to agree to low compensation for the fallen value of Russian assets, Bloomberg notes.
The main shareholder of Yandex is the family trust of Arkady Volozh, co-founder of the company. His LASTAR Trust fund owns 8.5% of Yandex's capital (45.1% of votes). Other directors, officers and employees hold 3.2% (6.6% of the vote). Shares in free float account for 87.9% of the capital (46.5% of votes). Pre-IPO owners own 0.3% of the capital (1.8% of votes). The trust no longer has voting rights: in 2022, it transferred its voting rights to independent members of the company's board of directors.
According to the agency, Yandex NV plans to create a new international structure that will control licenses for the development of technologies for unmanned vehicles, cloud storage, data tagging and educational projects.
May 19 Bloomberg informedthat billionaires Vladimir Potanin and Vagit Alekperov became interested in buying a controlling stake in the Russian Yandex. Mr. Potanin, in turn, represents a group of investors that includes entrepreneur and former owner of the Chelsea football club Roman Abramovich, as well as representatives of VTB Bank.
May 23, VTB CEO Andrey Kostin confirmedthat the bank is interested in buying a stake in Yandex. According to him, the possibility of entering the consortium of investors is being studied, but VTB's share "will still be discussed."
More details - in the publication "Kommersant" "Yandex will pro-yandex investors".