Dutch Yandex N.V. no longer the owner, the company is transferred to private investors led by Yandex managers
Yandex announced that the Dutch company Yandex N.V. closed the first stage of the transaction to sell the Yandex business to a consortium of private investors led by Yandex managers. The company announced that it was planning to change the legal entity-owner back in February of this year. The new parent company of the group was MKPAO «Yandex», and its main owner — Closed mutual fund «Consortium.First».
At the first stage of the Yandex N.V. transaction. sold about 68% of the shares of MKPAO «Yandex». Another 3.7% of the new parent company already belongs to Yandex.Technologies LLC, a subsidiary of MKPAO Yandex. This is necessary for the future employee motivation program, Yandex noted. Thus, the Dutch Yandex N.V. ceased to be the main shareholder of MKPAO «Yandex» and will completely withdraw from the shareholders after the transaction is closed.
At the second stage of the Yandex N.V. transaction. will sell the remaining share — approximately 28%. The transaction is expected to be finalized in July 2024. Until July 31, 2024 Yandex N.V. will change its name and stop using Yandex brands. The new parent company will retain the businesses, services and assets of the Yandex N.V. group. excluding foreign startups and data center in Finland.