Yandex search engine sold in $5.2 billion deal – Search Engine Land

Yandex, N.V. has agreed to sell its Russian assets – including the Yandex search engine – as part of a deal worth 475 billion rubles (roughly $5.2 billion).

Reports of a coming sale emerged in November. The sale still will need regulatory and shareholder approval.

About the sale. Yandex N.V., the Dutch parent company of the Yandex Group, agreed to sell all of its Russia-based assets, including Search, to a consortium made up of:

• Members of the senior management team of its Russian businesses.
• Russia-based PJSC Lukoil Oil Co.
• Russian entrepreneurs Alexander Chachava, Pavel Prass and Alexander Ryazanov.

The sale could have been for twice the amount, if not for a “mandatory discount,” as TechCrunch reported:

• “The reason for this markdown is due to a rule imposed by the Russian Government, which stipulates that any sale of Russian assets by parent companies incorporated in countries deemed ‘unfriendly’ by Russia, will be subject to a ‘mandatory discount’ of at least 50 percent. And…

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source: https://news.oneseocompany.com/2024/02/05/yandex-search-engine-sold-in-52-billion-deal-search-engine-land_2024020553416.html

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