Yandex to Fully Divest Russian Assets and Distribute Proceeds
- Deal to sell Russian unit may be announced in December
- Dutch-registered Yandex previously planned to sell a 51% stake
A Yandex driverless delivery robot in Moscow.
Photographer: Natalia Kolesnikova/AFP/Getty ImagesThis article is for subscribers only.
Yandex NV plans to sell its entire Russian business, including the nation’s most popular search engine, after its founder’s criticism of the war in Ukraine made potential investors wary of a partnership with the Dutch-domiciled parent company.
A group of Russian tycoons that’s bidding for the assets wants a full break with the Dutch entity, according to three people familiar with the plans who asked not to be identified because the information isn’t public. Talks previously focused on the sale of a majority stake in Yandex’s Russian unit, which generates most of the company’s revenue.