MOSCOW, May 17 (Reuters) - Dutch-registered Yandex N.V. ( YNDX )

said on Friday it had successfully completed the first

phase of a deal to divest its Russia-based businesses.

The company expects the second and final closure of the deal

to take place in the first half of July.

Yandex N.V. ( YNDX ) announced the agreement to divest the Russia

businesses in March for a total consideration of 475 billion

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

shares.

The businesses are being bought by a consortium made up of

senior Yandex Russian management, a fund controlled by oil major

Lukoil and three other companies owned by businessmen

Alexander Chachava, Pavel Prass and Alexander Ryazanov.