Yandex News

The Dutch parent of pioneering Russian tech company Yandex is selling its operations in the country at a steeply discounted price of just over $5 billion to its Russia-based managers and oil company Lukoil By DAVID McHUGH AP Business Writer February 5, 2024, 8:29 AM ET • 3 min read FRANKFURT, Germany — The Dutch parent of pioneering Russian tech company Yandex is selling its operations in the country at a steeply discounted price of just over $5 billion to its Russia-based managers and oil… Source link

After a year and a half of negotiations, Yandex founder Arkady Volozh and foreign shareholders have reached a deal to part ways with the company’s Russian assets. The Russian IT giant’s Netherlands-based parent company announced Monday that it will sell a large portion of its operations to a consortium of Russian investors before rebranding and continuing to develop its remaining international properties. The Russian investment fund making the purchase, called Consortium.First, includes… Source link

Yandex, often described as Russia’s Google, has sold its domestic businesses at a knock-down price. Bloomberg reports the search and services giant, now headquartered in the Netherlands, has handed off its Russian operations for 475 billion rubles ($5.2 billion) in cash and shares. The new owners include the management group, as well as Russia’s biggest domestic energy company, Lukoil, and Russian businessman and a former executive at Gazprom, Alexander Ryazanov, among others. Now that… Source link

Technology giant Yandex on Monday announced long-awaited plans to split its Russian and international units in a corporate divorce worth $5.2 billion. The deal marks an end to more than two decades of Western investment in Yandex, which for years was seen as a darling of Russia’s fast-growing tech industry and an example of successful Western investment in Russia. But after Moscow sent troops into Ukraine in February 2022, the company’s status as an internationally headquartered… Source link

Yandex NV reached an agreement to sell its Russian business, including the nation’s most popular search engine, for about $5.2 billion, the highest-valued deal yet to exit Russia following the invasion of Ukraine. The divorce, which took more than a year to negotiate, opens the way for Yandex, which has been registered in the Netherlands since 2007, to develop some projects abroad after divesting Russian units that had generated most of its revenue. Yandex management will get the biggest… Source link

Yandex is set to be sold to a group of Russian investors. Yandex NV, the Dutch parent company of Yandex, announced today that it has reached a $5.21 billion deal to sell most of its Russian operations to a consortium led by investors with ties to Russian oil giant Lukoil. Under the terms of the deal, a new investment fund, Consortium.First, will acquire Yandex”s leading search, advertising, ride-hailing, and other services that generate over 95% of its… Source link

Yandex NV has struck a 475-billion-rouble ($5.21 billion) deal to sell what has been dubbed “Russia’s Google” to a group of Russian investors, marking the biggest corporate exit from the country since Moscow invaded Ukraine almost two years ago. The Kremlin-engineered deal would see Russia’s largest technology player fall entirely under Russian ownership, including a fund ultimately owned by oil major Lukoil, and cement Yandex’s departure from Western tech circles. Once seen as one… Source link

By Alexander Marrow LONDON (Reuters) – A $5.2 billion cash and share deal to sell the key Russian assets of technology group Yandex, often labelled as “Russia’s Google”, to a consortium of Russian investors was announced on Monday after months of negotiations. Here’s why the deal is significant. RUSSIA’S LARGEST TECH ASSET Moscow has long sought to gain more influence over Yandex, set up in the dotcom boom in the late 1990s, as it became a key player in online services such as search and… Source link

Tech giant Yandex announced Monday it has agreed to sell its Russian assets to a consortium of Russian investors for 475 billion rubles ($5.2 billion). The Amsterdam-based Yandex N.V. had been negotiating a restructuring after Western sanctions over Russia’s war in Ukraine forced Yandex to effectively split into two companies, with one based in Russia and the other in the Netherlands.  “Yandex N.V., the Dutch parent company of the Yandex group… has entered into a definitive… Source link

Image Credits: YURI KADOBNOV/AFP / Getty Images Yandex N.V., the Dutch parent company of the eponymous Russian internet giant, is selling the last of its remaining Russian businesses at a steep discount, following geopolitical pressures that emerged from Russia’s invasion of Ukraine two years ago. The value of the transaction, which will include the sale of all Yandex N.V. businesses in Russia and a handful of neighboring markets, will amount to around 475 billion rubles… Source link