Dutch Yandex NV, the parent company of the Yandex group, plans to sell all its assets in Russia at once by the end of the year. In this respect reports Reuters cites three independent sources.
The cost of the possible transaction was not disclosed. A Reuters source estimated the value of 100 percent of the IT giant’s assets at 560 billion rubles. (Approximately $6.18 billion at exchange rate as of November 14, 2023). According to him, this amount is approximately twice the company’s target value. This “discount” is allegedly one of the mandatory requirements of the Russian government in the sale of foreign assets.
Another source estimated the deal at $5 billion, while a third did not name the amount but noted it was less than previously estimated. Reuters emphasizes that Russian billionaires want to buy Yandex NV’s assets for $ 7 billion in May 2023.
The company has been restructuring for several months. The process aims to repay shareholders through the sale of major Russian businesses. First of all, we are talking about the Yandex search platform and the Yandex Taxi service.
Yandex did not respond to journalists’ requests.
Previously at Yandex tested audio advertising on your smart speakers.
Source: Gazeta
Jackson Ruhl is a tech and sci-fi expert, who writes for “Social Bites”. He brings his readers the latest news and developments from the world of technology and science fiction.