MOSCOW, March 6 (Reuters) - 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 ( YNDX ) Russian business,

Russian newspaper Vedomosti reported on Wednesday citing

sources.

Yandex NV ( YNDX ) 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. It was led by members

of Yandex's ( YNDX ) senior management team in Russia and supported by

four financial investors including Argonaut, an investment fund

ultimately owned by Lukoil.