The Dutch company Yandex N.V. has completed the first stage of the sale of Yandex's core business, with a consortium of Russian investors acquiring 68% of the shares.
The new main owner of the company is ZPIF «Консорциум.Первый», and the new parent company of the group is МКПАО «Яндекс». Also, 3.7% of the shares already belong to ООО «Яндекс.Технологии», a subsidiary of МКПАО «Яндекс».
Thus, Yandex N.V. is no longer the main shareholder of МКПАО «Яндекс» and will exit the shareholder structure after the deal is closed.
In the second stage, in July 2024, Yandex N.V. will sell the remaining 28% of the shares. Until July 31, 2024, Yandex N.V. will stop using Yandex brands and change its name. At the same time, the new parent company МКПАО «Яндекс» will retain the assets, services, and businesses of the Yandex N.V. group, except for the data center in Finland and foreign startups.
Earlier, www1.ru reported that after the completion of the deal, Yandex will not compete with Yandex N.V., which will receive limited rights to use technologies and hire new employees.
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