Previous Close | 18.94 |
Open | 0.00 |
Bid | 0.00 x 800 |
Ask | 0.00 x 1100 |
Day's Range | 18.94 - 18.94 |
52 Week Range | 18.94 - 18.94 |
Volume | |
Avg. Volume | 0 |
Market Cap | 6.797B |
Beta (5Y Monthly) | 0.90 |
PE Ratio (TTM) | N/A |
EPS (TTM) | -1.22 |
Earnings Date | Apr 25, 2024 - Apr 29, 2024 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | N/A |
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Shareholders of Dutch-registered Yandex NV approved the sale of "Russia's Google," the country's most valuable technology asset, to a management-led consortium of Russian investors, the company said on Thursday. Yandex, a technology company that operates an internet search engine, last month struck a 475-billion-rouble ($5.27 billion) deal after months of negotiations to sell its assets in Russia at a heavily discounted price due to Kremlin demands on foreign asset sales. Yandex NV said in a statement that it was pleased with the progress made so far on satisfying required conditions, including receiving shareholder approval and a green light from the Russian government's commission for control over foreign investment.
Two of Russia's largest corporate exit deals since Moscow's invasion of Ukraine are up for shareholder approval on Thursday, with "Russia's Google" Yandex and major mining assets set to pass to Russian ownership in transactions totalling around $9 billion. Dutch-registered Yandex NV, struck a 475-billion-rouble ($5.27 billion) deal to sell its local subsidiary - Russia's most valuable technology asset - to Russian investors, while precious metals producer Polymetal International is selling its Russian assets to a Siberian gold miner for about $3.7 billion.
A subcommittee of the Russian government commission for control over foreign investments has approved a number of deals for a group of Russian investors to buy 96.3% of Yandex NV's Russian business, Russian newspaper Vedomosti reported on Wednesday citing sources. Yandex NV had struck a 475-billion-rouble ($5.21 billion) deal to sell what has been dubbed "Russia's Google" to a group of Russian investors last month, marking the biggest corporate exit from the country since Moscow invaded Ukraine almost two years ago. The buyer, Consortium.First, is a newly-formed investment fund managed by trustee Solid Management.