Shareholders of the Dutch company Yandex NV approved the sale of Yandex’s business in Russia. The deal will be closed in two stages, with the first stage expected to be completed in the coming weeks.
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Shareholders of the Dutch company Yandex NV approved the agreement to sell Yandex’s business in Russia. This was reported by the company’s press service.
The closing of the transaction will be carried out in two stages. In the first, Consortium.First will acquire control of Yandex from Yandex NV with a stake of up to 68%. This phase is expected to be completed in the coming weeks.
MCAO “Yandex” will become the parent company of “Yandex” and will retain the assets of Yandex NV with the exception of four new foreign companies and a data center in Finland.
“Yandex will continue to develop search, urban, entertainment and educational services, as well as cloud technologies, self-driving cars, artificial intelligence technologies and other promising areas,” the company said.
Previously, the agreement to sell the Yandex business was approved by a government commission.
Author:
Kirill Bilyk
Source: RB
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