Tag Archives: sells

Dutch owner of Russia’s No. 1 search engine Yandex sells for $5.2 billion, exits country

Dutch owner of Russia’s No. 1 search engine Yandex sells for $5.2 billion, exits country

The Dutch parent of top Russian internet search engine Yandex, often called the “Google” of Russia, has sold the business to a special-purpose Russian mutual fund at a heavily discounted $5.2 billion and is pulling out of the country completely. Yandex has no connection to Google or parent company Alphabet. File Photo by Maxim Shipenkov/EPA Feb. 6 (UPI) — The… Source link

Read More »

Russia’s tech pioneer Yandex sells on big Kremlin-required discount

Russia’s tech pioneer Yandex sells on big Kremlin-required discount

FRANKFURT, Germany (AP) — 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, one of the biggest deals for Western-held companies to exit Russia since the invasion of Ukraine. The price reflects a 50% discount that Moscow imposes on companies from “unfriendly” countries like the Netherlands as… Source link

Read More »

Yandex sells its Russian operations to local executives for $5.2 billion

Yandex sells its Russian operations to local executives for $5.2 billion

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

Read More »