The Government Commission for Control of Foreign Investments in Russia approved an agreement to purchase 96.3% of the shares of MKAO Yandex from the Dutch company Yandex NV, two sources familiar with the development of the agreement informed Vedomosti.
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The transaction amount approved by the commission will be 457.3 billion rubles, 17.7 billion less than announced – 475 billion rubles. According to the publication’s interlocutor, the remaining 3.7% of the shares already belong to the Russian company Yandex.
Yandex NV announced in early February that it would sell the Yandex business for 475 billion rubles to a consortium of private investors. The new parent company of the holding company will be the Russian MKAO Yandex.
The company’s shares reacted negatively to news of an agreement to separate the business. At the opening of trading on the Moscow Stock Exchange, the securities lost 9.27% of their value, down to 2,870 rubles.
Author:
Karina Pardaeva
Source: RB
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