This amount is 17.7 billion less than previously announced. 96.3% of shares will be bought from the Dutch company Yandex N.V.
The government commission for control over foreign investments has approved the sale of Yandex for 457.3 billion rubles. This was reported by the Vedomosti newspaper. This amount is 17.7 billion less than previously announced.
The Dutch company Yandex N.V will buy out 96.3% of Yandex shares. Up to 237 billion rubles will be paid in money, and the rest will be paid in N.V. shares.
After that Yandex N.V will cease to be the parent company The remaining 3.7% of shares is already owned by the Russian "Yandex".
The new parent company will be the International Company AO (ICAO) Yandex, registered in the Kaliningrad region.
The company in the Netherlands will retain its foreign assets - TripleTen, Nebius, Avride, Toloka and a data center in Finland.
Russian "Yandex" will develop cloud technologies, search, unmanned cars and AI-technologies.
Earlier wrote that "Yandex Translator" became the best.
By the way, the company "Yandex" released an update of its browser with the integration of advanced neural network technologies.