Yandex’s parent company, the Dutch Yandex NV, plans to restart international business under a new name. The estimated date is early 2024.
The name of the new company has not yet been announced. Project LEFT is the working title of the corporate restructuring project itself, a source familiar with its terms told Interfax.
Yandex presented plans to change the company’s management structure in November 2022. As a result, Yandex NV will be spun off into a separate group and Russian Yandex should become part of a new parent structure.
Russian investors own 20% of Yandex. In case of agreement, the Dutch company Yandex NV will take around a third of the Russian business.
Subsequently, the company will establish new international structures that will deal with unmanned vehicles, cloud technologies and the field of online education.
Author:
Karina Pardaeva
Source: RB
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