Yandex to Offer Investors Choice of Russia or Foreign Assets
- Russian investors could swap equity for share of Russian unit
- Yandex is seeking to split its foreign, Russian businesses
A courier for Yandex in Moscow.
Source: Bloomberg
Investors in Yandex NV will get to choose whether to keep a stake in the company’s profitable Russian business, take cash or receive a share of its international startups as the company attempts to split its assets, according to people familiar with the matter.
Dutch-registered Yandex plans to offer Russian investors an opportunity to swap their holdings for a stake in the Russian unit if it agrees to a deal to sell a majority stake in that business, the people said, asking not to be identified because the information is not public. It is also considering offering several options for international investors, although nothing is final and any decisions will require shareholder approval, they said.