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Russian Yandex was sold for 475 billion rubles.

Finance

5 February, 12:08

Yandex has struck a deal to sell its business to a consortium of investors for 475 billion rubles. It will cease to be the parent company. The new parent company will become the "Yandex" International Joint Stock Company.

The structures of the founder of Leta Capital, the head of "Infinitum," the "Lukoil" group, and the former vice president of "Gazprom" have entered the consortium of new owners of "Yandex." "Yandex" will retain the Yandex N.V. group's businesses, services, and assets, except for foreign startups and the Finnish legal center.

Yandex will grant Yandex N.V. limited rights to use some of its technologies until the end of 2024.

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