The Dutch company Yandex NV has carried out a move to sell the Yandex business for 475 billion rubles (taking into account a discount in the group of at least 50% of the market value) the consortium stopped.
The company reports that Yandex NV will cease to be the parent company of the group. Until July 31, 2024, it will change its name and stop using Yandex brands. The new parent company of Yandex will be the International Joint Stock Company (ICAO) “YANDEX”, a private and independent organization.
According to the terms of the deal, Yandex retains the business, services and assets of the Yandex NV group, with the exception of foreign startups (Nebius, Toloka, Avride and TripleTen) and data centers in Finland.
Yandex noted that it is a private and public company. At the same time, they will continue to be independent.
After the restructuring, a “Managers Fund” is created. It will include several people from the current Yandex management team, receiving “super votes.” These are special rights that apply at the level of directors of the Board and at the level of shareholders.
The main authority of MCAO “Yandex” will be the closed mutual fund “Consortium.First” led by Yandex managers. There are also four more shareholders in the consortium: the structure of Alexander Chachav, entrepreneur and founder of the venture fund LETA Capital; structure of Pavel Prass, general director of one of the specialized depositories “INFINITUM”; structure of the LUKOIL group; structure of Alexander Ryazanov, a multidisciplinary investor and entrepreneur.
Now it is necessary to agree on the shareholders of Yandex NV and the regulatory authorities. It should be completely closed by early 2025.
Source: Iphones RU
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