Tag Archives: Russian

By Alexander Marrow, Darya Korsunskaya and Polina Devitt LONDON (Reuters) – Before Moscow’s invasion of Ukraine two years ago, Russia’s Nasdaq-listed search engine giant Yandex was briefly worth $30 billion. This week, a consortium of domestic investors agreed a deal to buy it for $5.2 billion. In normal times, that would represent a disaster for Dutch parent company Yandex NV and its Western shareholders. But in a world where Western firms have left Russia in droves, sometimes for a nominal… Source link

The Netherlands-based parent company of the Yandex group is selling its Russian businesses to local investors for $5.2 billion, the company announced on Monday. Despite a mandatory discount of at least half enforced by the Kremlin, this would be the largest corporate exit from Russia since it invaded Ukraine two years ago. Yandex, often referred to as “Russia’s Google,” was founded in Russia in the late 1990s and went public on the Nasdaq in 2011 via a company called Yandex NV registered… Source link

[unable to retrieve full-text content]Yandex takes a big hit to get rid of Russian assets  TechCrunch Source link

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

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

[unable to retrieve full-text content]Yandex to sell its remaining Russian businesses for $5.2B — half its market value  TechCrunch 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