Yandex NV entered into a deal to sell Yandex for 475 billion rubles to a consortium of investors
The Dutch company Yandex NV entered into a deal to sell the Yandex business for 475 billion rubles (taking into account a discount of at least 50% of the market value in accordance with the requirements of the subcommittee of the Government Commission for the Control of Foreign Investments) to a consortium of private investors (more details - Here ).
Yandex NV will cease to be the parent company of the group. Until July 31, 2024, it will change its name and stop using Yandex brands.
The new parent company of Yandex will be the International Joint Stock Company (ICAO) YANDEX, a private and independent company whose shares will be traded on the Moscow Exchange.
Artyom Savinovsky will remain the CEO of Yandex.
Yandex will retain the businesses, services and assets of the Yandex NV group with the exception of foreign startups (Nebius, Toloka, Avride and TripleTen) and a data center in Finland.
Yandex will provide Yandex NV with limited rights to use part of its technologies until the end of 2024.
Yandex will continue to develop search, urban, entertainment and educational services, as well as cloud technologies, autonomous cars, artificial intelligence technologies and other promising areas.