Tag Archives: Yandex

By Mariko Oi Business reporter 6 February 2024 Image source, Getty Images The owner of Yandex, often referred to as “Russia’s Google”, has said it will pull out of its country of origin. The sale to a consortium of investors means Yandex’s Russian business is now a fully Russian-owned entity. The firm has previously been accused of hiding information about the war in Ukraine from the Russian public. Moscow has welcomed the latest deal which the company said was “the product of an extensive period… 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 parent firm of Russia’s most prominent technology company, Yandex, said it has agreed to sell all its assets in the country for about $5 billion, which would be one of the largest corporate exits from Russia since its invasion of Ukraine. The invasion had roiled Yandex — often referred to as “Russia’s Google” — and turned its attempts to navigate between the Kremlin’s authoritarian policies and a Western blockade of the Russian economy into the most dramatic example of the… Source link

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

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… 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