Yandex management will retain control of all the group’s businesses, services and assets, except for some foreign ventures and a data center in Finland. For this purpose, a special “Executive Fund” was created, which will have the right to veto when making important decisions. In this respect reported In Yandex’s press release.
The company will transfer limited rights to the use of some of its technologies to the Dutch structure Yandex NV by the end of 2024.
Before recognized Agreement to sell Yandex business in Russia to a consortium of private investors and managers for 475 billion rubles. The parent company will be Russian JSC Yandex, rather than Dutch Yandex NV.
Its main shareholder will be the closed investment fund Consortium. Firstly, it is under the management of Yandex management. The “Manager Fund” created will receive 2 seats on the board of directors of the new 10-person company.
Previously Qiwi complete The process of selling a Russian business.