Forbes learned about the discussion on the purchase of Yandex through a unique structure

According to the publication’s interlocutor, the buyer could be “a certain unified structure that will represent all sanctioned and non-sanctioned investors.” He added that this idea belongs directly to Tavrin and Potanin.

Another source of the publication claims that such a scenario will be clear to officials of the foreign investment control subcommittee.

It is claimed that the main beneficiary will be Tavrin. A source from the company that supports the agreement explains that Tavrin’s figure is beneficial for the government commission, since it is important that the agreement does not generate criticism. Tavrin has a name in the market and in funds. You can raise money for the deal.

Former Megafon head Ivan Tavrin bought Avito last fall for more than 100 billion rubles. Thus, his Kismet Capital group became the owner of the service.

The original business division scheme has also changed. In May, it was planned that investors would buy only an economic stake in the company, and voting control should remain with Yandex management in the form of a specially designated fund.

New scheme

Now potential participants in the deal are considering transferring control to a single structure representing the interests of a “carefully hidden” group of investors.

“A complex mechanism of interaction will be organized between the participants of the investor consortium, which will be transmitted through a common structure in Yandex,” says the interlocutor of the publication. The proportion of votes of the common structure will be de facto controlling.

At the same time, some managers and corporate development advisor Alexey Kudrin, who moved from the Accounts Chamber to Yandex about a year ago, will receive the right to vote “on a limited range of issues.”

“This has nothing to do with executive management. As executive directors, they will be full directors,” clarified the interlocutor.

In mid-November it became known about the plans of the Dutch company Yandex NV to sell its entire Russian business, without limiting itself to a majority stake. According to Reuters sources, the deal could be worth “between $5 billion and $6.18 billion,” taking into account a 50% discount on the sale of foreign assets.