The board of directors of Yandex NV approved the transaction for the sale of business in Russia. Now we need to get approval from regulators and shareholders. Previously, a consortium of private investors bought the Russian business Yandex for 475 billion rubles.
The board of directors of the Dutch company Yandex NV approved the agreement to sell the Russian business of its subsidiary. This is stated in a Yandex report published on Thursday.
Now the deal must be approved by regulators and shareholders of the Dutch company. An extraordinary meeting is scheduled for March 7.
“Yandex sold its business in Russia: reasons and assumptions of how the Russian IT market will change
The new parent company of Yandex will be MKAO Yandex, registered in a special administrative region of the Kaliningrad region.
At the end of January, the Russian company Yandex bought the stake of a consortium of private investors for 475 billion rubles.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
