The management and consultants of the Dutch company Yandex NV began discussing various options for the reorganization of Yandex as part of the process of splitting the Russian company into a separate legal entity and possibly attracting investors to its capital. It is reported by RBC with reference to the sources.
According to one of the scenarios, the deal could look like this:
- the Dutch Yandex NV, owned by Arkady Volozh, will create a structure in the Russian Federation in which it will have a 100% stake. Perhaps you will be registered in a special administrative region of Kaliningrad;
- the mechanism of the “golden share” (it is owned by the Public Interest Fund and allows to block significant transactions with the company’s securities, etc.) will be transferred to a new Russian company;
- in the new Russian structure, a fund of managers will be created, which may include the former head of the Accounts Chamber, Alexei Kudrin, who joined Yandex, the former general director of the company Tigran Khudaverdyan, Daniil Shuleiko (heads the business group of e-commerce and logistics services) and Artem Savinovsky (CEO Yandex”);
- Yandex NV will transfer the management of Russian companies to the new fund for 5 years, including the right to vote a majority stake (but not the documents themselves) and the right to approve up to six representatives on the board of directors (now the Yandex board NV has seven people);
- The Dutch Yandex NV will hold licenses for the development of four projects abroad: drones, cloud technologies, the Yandex.Practice educational project and the Toloka data marking project. It is also possible to pay $300-400 million to the Dutch company.
The next stage of the organization, according to the above scenario, involves the sale of 51% of the “Russian” part of Yandex by the investor and keeping 49% for Yandex NV. RBC sources say the administration included 20 entrepreneurs on the “broad” list of investors.
Among the names are the former principal owner of Polyus, Suleiman Kerimov, chairman of the board of directors of NLMK Vladimir Lisin, co-owner of Akron Vyacheslav Kantor, shareholders of LUKOIL Vagit Alekperov and Leonid Fedun and others.
Yandex declined to comment on the reorganization scheme and the list of potential applicants for the company’s capital.
Author:
anastasia mariana
Source: RB
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