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.