*

This content was produced in Russia where the law

restricts

coverage of Russian military operations in Ukraine

MOSCOW, April 8 (Reuters) - Southey Capital, a capital

markets firm specialising in distressed and illiquid securities,

said on Monday it was offering to buy shares in Russian railroad

operator Globaltrans at a discount of around 20%.

Western sanctions imposed in response to the conflict in

Ukraine and subsequent Russian countermeasures have stranded

assets in both Russia and the West.

Globaltrans did not immediately respond to a request for

comment on the offer by London-based Southey Capital.

Southey Capital said it would pay $6.73 in cash for each

security validly tendered over-the-counter (OTC).

Trading of Globaltrans' shares in London was suspended

shortly after Russia despatched its army to Ukraine in February

2022. In Moscow, its securities currently trade at 765 roubles

($8.26) each.

Southey Capital said it believed the offer would give

holders without access to exchanges or OTC counterparties the

opportunity to realise liquidity before their investment may

become stranded or expropriated.

It has also offered to buy shares in Yandex N.V. ( YNDX ), the

Dutch-registered holding company of Russian internet giant

Yandex ( YNDX ). A consortium of domestic investors agreed a

$5.2-billion deal to buy Yandex's ( YNDX ) Russian business in February.

In a shareholder circular in February, Yandex ( YNDX ) said it was

not party to and had not authorised the Southey Capital offer.

($1 = 92.5740 roubles)