MOSCOW, February 5 After the sale, Yandex will retain the businesses, services and assets of the Yandex N.V group, with the exception of foreign startups and a data center in Finland, the company reports.
Yandex will retain the businesses, services and assets of the Yandex N.V. group. with the exception of foreign startups (Nebius, Toloka, Avride and TripleTen) and a data center in Finland. Yandex will provide Yandex N.V. limited rights to use part of its technologies until the end of 2024,» the message says.
The company also noted that Yandex will continue to develop search, urban, entertainment and educational services. In addition, the company will work with cloud technologies, autonomous cars, artificial intelligence technologies and other promising areas.
Earlier on Monday Yandex N.V. announced that he had agreed to sell Yandex for 475 billion rubles to a consortium of private investors; Yandex N.V. will also cease to be the parent company of the group. The transaction will be closed in two stages: the first is expected to be completed in the first half of 2024, the second — seven weeks after the first, after which Yandex N.V. will leave the Moscow Exchange. The buyer will pay a total of 230 billion rubles and about 176 million class A shares of Yandex N.V., which are currently traded on the Moscow Exchange.
Yandex announced the restructuring in November 2022. It was reported that parent Yandex N.V. is considering the possibility of separating the main part of the business into a separate Russian group of companies, plans to eventually withdraw from its shareholders and change the name, while the new structure of Yandex in Russia will include a number of foreign directions and will retain the brand.
At the end of 2023, the Yandex company completed the registration of a new legal entity — ICAO Yandex — in the territory of the special administrative region (SAR) of Oktyabrsky Island, Kaliningrad Region, the corresponding entry was made in the SAR register.