Search engine Yandex owner to exit Russia in $5.2 billion deal – Yahoo Finance

By Alexander Marrow, Darya Korsunskaya and Polina Devitt

LONDON (Reuters) -Nasdaq-listed technology company Yandex NV said it had struck a 475-billion-rouble ($5.21 billion) cash and share deal to sell all its assets in Russia to a consortium of Russian investors, including a fund ultimately owned by oil major Lukoil.

The deal would see the country’s largest technology player, often referred to as “Russia’s Google”, fall entirely under Russian ownership and cement Yandex’s departure from the Western tech circles it once courted.

Yandex developed leading online services, including search, advertising and ride-hailing, and was seen as one of the few Russian companies with the potential to become a global business until Moscow invaded Ukraine in February 2022.

The Kremlin has been engaged in negotiations with Yandex for around 18 months to try and spin off Yandex’s Russian businesses from Yandex NV, its Dutch parent company.

The deal is complicated for several reasons, primarily…

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source: https://news.oneseocompany.com/2024/02/05/search-engine-yandex-owner-to-exit-russia-in-52-billion-deal-yahoo-finance_2024020553406.html

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