The Bell* named Mordashov, Alekperov and Potanin as the main contenders for the purchase of control in Yandex

In November, Yandex confirmed its intention to restructure corporate governance and spin off the Dutch-registered parent company Yandex NV into a separate group. Russian “Yandex” with all assets will pass under the new parent structure.

Now control of the company belongs to Volozh, after the company’s divorce from its founder, a majority stake will be sold.

A few months earlier, Yandex consultants sent dozens of leading Russian businessmen offers to participate in the purchase of a majority stake in the company. With the interest of potential buyers, they waited for an application with an evaluation of the business.

On the topic: Yandex management sees potential investors in the company among 20 billionaires

Applications were filed by around a dozen applicants, the price is different for everyone, the sources said. Now the task is to determine the price that will suit the seller (Dutch Yandex NV, controlled by the Volozha family trust), the buyers, and the Russian government, which has introduced restrictions on foreign investors leaving Russia (among them, a discount to the market value of assets of at least 50%, a contribution from the sale of assets in Russia for at least 10% of half of their market value).

The shortlist, according to The Bell*, includes the structures of Lukoil founder Vagit Alekperov and Severstal’s main shareholder Alexei Mordashov. The interlocutors also named Novatek owner Leonid Mikhelson, but his involvement is questionable. Another contender is called Vladimir Potanin.