Giant IT company Yandex, also known as 'Russia's Google', is planning to sell all its Russian operations
Exclusive: Yandex NV could sell Russian assets all at once | Reuters
https://www.reuters.com/markets/deals/yandex-nv-could-sell-all-russian-assets-one-go-2023-11-14/
Yandex to Fully Divest Russian Assets and Distribute Proceeds - Bloomberg
https://www.bloomberg.com/news/articles/2023-11-14/yandex-to-fully-divest-russian-assets-and-distribute-proceeds
Founded in 1997, Yandex is Russia's largest IT company, offering online services such as search engines, e-mail, and translation sites, as well as taxi dispatch services. Legally, the holding company Yandex NV in the Netherlands is the headquarters, so it has been listed on the NASDAQ in New York to emphasize that there is no influence from the Russian government, and as of November 2021, the market capitalization is 300. It exceeded 1 billion dollars (approximately 3.45 trillion yen at the exchange rate at the time).
However, as soon as Russia began its military invasion of Ukraine in February 2022, Yandex's stock price plummeted, wiping out more than 75% of the corporate value it had accumulated over the previous six months.
IT giant 'Yandex', also known as 'Russia's Google', is in crisis - GIGAZINE
Founder Arkady Voloz has been living in Tel Aviv, Israel since 2014, and has maintained a political distance from the Russian government, but his name was added to the EU sanctions list in June 2022. it was done. In response to this, Mr. Voloz resigned as CEO , and in August 2023, he publicly announced that ``Russia's invasion of Ukraine is barbaric and I completely oppose it.''
Nasdaq suspended trading in Yandex shares immediately after the Russian invasion began, and in March 2023, four Russian companies, including Yandex, were officially notified of delisting . It has been reported that Yandex objected to this, and subsequently received permission to maintain its listing on Nasdaq on the condition that it ``complete the restructuring and sale of its Russian operations within the year.''
Yandex to maintain NASDAQ listing under conditions of Russian business restructuring | Reuters
https://jp.reuters.com/article/ukraine-crisis-yandex-nasdaq-idJPKBN2XU0PZ
The Dutch holding company plans to sell Yandex's entire Russian operations, according to people contacted by Reuters and Bloomberg. Yandex will hold a board meeting in Dubai in late November and hopes to reach an agreement with interested parties in December.
In response to pressure from the Russian government, Yandex will sell some of its online businesses, including its news division, to Vkontakte (VK), a state-owned company that operates SNS, in the second half of 2022. The sale will separate major businesses, such as search engines and ride-hailing services, which still generate revenue in Russia, from Yandex, and the company will distribute the recovered funds to investors through buybacks and dividends, as well as expand its business outside of Russia. It is said to be for the sake of
According to people familiar with the matter, Yandex plans to establish a new holding company in a special tax zone in Kaliningrad , Russia, and consolidate the assets of its entire Russian business there before selling it. The Russian government requires foreign companies that withdraw to sell their assets at half price, and based on this, the sale price of Yandex's entire Russian business is estimated to reach 560 billion rubles (approximately 930 billion yen). Masu.
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