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Russian consortium announces terms for $5.2 bln Yandex cash and share deal
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Russian consortium announces terms for $5.2 bln Yandex cash and share deal
May 13, 2024 4:40 AM

MOSCOW, May 13 (Reuters) - A Russian consortium

announced terms on Monday to buy the Russian assets of

technology group Yandex ( YNDX ) from Dutch parent company Yandex NV ( YNDX ) in a

cash and share deal.

The consortium said it expects to receive no more than

107,729,866 shares of Yandex N.V ( YNDX ) via a purchase and swap. The

buyback will take place at a price of 1,251.8 roubles per Yandex

NV ( YNDX ) share. The swap will be done at a 1:1 ratio.

Yandex NV ( YNDX ) announced the agreement to divest its Russia-based

businesses in April for a total consideration of 475 billion

roubles ($5.2 billion), payable in a combination of cash and

shares.

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