Dutch company Yandex N.V. and Russian Yandex announced on Monday the certification of the sale of Yandex’s business in the Russian Federation to Russian investors. Reuters writes about this.
► Read the Ministry of Finance on Instagram: the main news about investments and finance
What is known
As a result of the second stage of the transaction, the Dutch company sold the remaining 28% of Yandex shares, receiving for them outside Russia about $180 million in Chinese yuan, as well as 94.9 million shares of Yandex N.V. class A.
“Upon closing the second stage of the transaction, Yandex N.V. received the agreed purchase price and has now fully realized its remaining stake in the Russian business,” the message says.
The total value of the sale of the business in the Russian Federation, which the shareholders agreed on in February of this year, amounted to $5.4 billion , including $2.8 billion in cash and 162.5 million class A shares.
As a result of the transaction, the Russian businesses of Yandex, in addition to foreign startups (Nebius, Toloka, Avride and TripleTen) and the data center in Finland, were sold to a consortium of Russian investors with the participation of management, as well as structures of the oil concern Lukoil, businessmen Alexander Chachava, Pavel Prass, Alexander Ryazanov.
After completion of the transaction, the company's business outside Russia will develop under the Nebius Group brand. The number of shares of classes A and B in free float as a result of the closing of the second stage of the transaction reached 199 million shares. They have a listing on NASDAQ, but trading in these shares is currently suspended.
- Shares (securities)