Russian consortium announces terms for $5.2 billion Yandex cash and share deal

By Thomson Reuters May 13, 2024 | 6:24 AM

MOSCOW (Reuters) – A Russian consortium announced terms on Monday to buy the Russian assets of technology group Yandex from Dutch parent company Yandex NV in a cash and share deal.

The consortium said it expects to receive no more than 107,729,866 shares of Yandex N.V via a purchase and swap. The buyback will take place at a price of 1,251.8 roubles per Yandex NV share. The swap will be done at a 1:1 ratio.

Yandex NV announced the agreement to divest its Russia-based businesses in April for a total consideration of 475 billion roubles ($5.2 billion), payable in a combination of cash and shares.

(Reporting by Gleb Stolyarov; Writing by Maxim Rodionov; Editing by Mark Trevelyan)