Yandex Investor Baring Vostok to Exit Stake Amid Slowdown
This article is for subscribers only.
Baring Vostok Capital Partners joined a growing list of early investors in Yandex NV, Russia’s largest search-engine operator, that are seeking to sell their stake amid signs the economy is slowing.
Baring Vostok, a Moscow-based firm that first invested in the company in 2000, plans to sell almost its entire stake, worth about $710 million, by June 2015, Yandex said in a regulatory filing posted June 20. The move follows sales by other early investors including Tiger Global Management LLC, Almaz Capital Partners and Rex Capital Advisors LLC.