Can completely get out of the Russian Federation: "Yandex" can sell Russian assets at a time - Reuters

According to the publication, the company intends to sell key assets, such as search engines and taxi services, to repay some of the funds to the shareholders, but the final decision to withdraw from the country has not yet been made. The Holding Company JSC Yandex NV from the Netherlands studies the possibility of selling all its Russian assets at once, not just a controlling stake. About it reports the British Agency Reuters with reference to interlocutors close to this issue.

Yandex is often called "Russian Google". Prior to the start of a full -scale invasion of Ukraine, the company had a global development potential. The main areas of Yandex business include taxi and online advertising in Russia. In 2022, the company sold its news aggregator and other Internet resources of the VK-controlled VK competitor and began corporate restructuring.

Information on the possible sale of Russian assets of Yandex appeared after the announcement of the meeting of the Board of Directors, planned at the end of November in Dubai. The parties hope to reach the agreement in December, subject to the approval of the agreement by the shareholders and the Government of Russia. Yandex NV intends to sell key Russian assets such as search engines and taxi services to repay some of the money to the shareholders.

She then plans to develop four other areas of her business in the international market. One source reported that it was about the sale of a 100% holding company created in the Kaliningrad region. The complete exit of Yandex from Russia is possible. However, the final decision has not yet been made.

The publication notes that such actions of Yandex NV can cause a reaction from the Russian authorities, which requires significant deductions to the Russian budget from the sale of foreign assets of companies left by the Russian market. Yandex NV shareholders may remain dissatisfied with the result of the agreement, some sources consider.