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Mon, 08 Apr 2024 15:46:36 +0000	Southey Capital offers to buy shares in Russian railroad firm Globaltrans Southey Capital, a capital markets firm specialising in distressed and illiquid securities, said on Monday it was offering to buy shares in Russian railroad operator Globaltrans at a discount of around 20%. Western sanctions imposed in response to the conflict in Ukraine and subsequent Russian countermeasures have stranded assets in both Russia and the West. Globaltrans did not immediately respond to a request for comment on the offer by London-based Southey Capital.
Thu, 28 Mar 2024 18:03:13 +0000	Yandex Aims to Complete Stage One of Russian Divestment by May (Bloomberg) -- Yandex NV has extended through April the timeframe for completing the first stage of a $5.2 billion deal to sell its Russian business, the Dutch-based company said in a statement. Most Read from BloombergKim Jong Un Faces Annihilation in Most Korea War ScenariosApple Explores Home Robotics as Potential ‘Next Big Thing’ After Car FizzlesTSMC Facilities to Resume Production Overnight After QuakeTexas Toll Road Takeover to Cost Taxpayers at Least $1.7 BillionA Million Simulations, On
Thu, 07 Mar 2024 18:51:41 +0000	UPDATE 1-Yandex NV shareholders approve sale of Russian assets to investor consortium Shareholders of Dutch-registered Yandex NV approved the sale of "Russia's Google," the country's most valuable technology asset, to a management-led consortium of Russian investors, the company said on Thursday. Yandex, a technology company that operates an internet search engine, last month struck a 475-billion-rouble ($5.27 billion) deal after months of negotiations to sell its assets in Russia at a heavily discounted price due to Kremlin demands on foreign asset sales. Yandex NV said in a statement that it was pleased with the progress made so far on satisfying required conditions, including receiving shareholder approval and a green light from the Russian government's commission for control over foreign investment.
Thu, 07 Mar 2024 06:10:51 +0000	Yandex, Polymetal shareholders set to approve major Russian exit deals Two of Russia's largest corporate exit deals since Moscow's invasion of Ukraine are up for shareholder approval on Thursday, with "Russia's Google" Yandex and major mining assets set to pass to Russian ownership in transactions totalling around $9 billion. Dutch-registered Yandex NV, struck a 475-billion-rouble ($5.27 billion) deal to sell its local subsidiary - Russia's most valuable technology asset - to Russian investors, while precious metals producer Polymetal International is selling its Russian assets to a Siberian gold miner for about $3.7 billion.
Wed, 06 Mar 2024 05:59:30 +0000	Russian government approves Yandex NV deal to sell Russian assets - Vedomosti A subcommittee of the Russian government commission for control over foreign investments has approved a number of deals for a group of Russian investors to buy 96.3% of Yandex NV's Russian business, Russian newspaper Vedomosti reported on Wednesday citing sources. Yandex NV had struck a 475-billion-rouble ($5.21 billion) deal to sell what has been dubbed "Russia's Google" to a group of Russian investors last month, marking the biggest corporate exit from the country since Moscow invaded Ukraine almost two years ago. The buyer, Consortium.First, is a newly-formed investment fund managed by trustee Solid Management.
Wed, 21 Feb 2024 15:41:06 +0000	UPDATE 1-Yandex co-founder Arkady Volozh to be removed from EU Russian sanctions list, sources say EU countries have agreed to remove Arkady Volozh, co-founder of Russian internet giant Yandex, from their list of sanctioned entities and individuals relating to Russia's war in Ukraine, three sources familiar with the matter said. Volozh is one of three individuals who will be removed after March 15 when the sanctions regime is renewed. In August last year, Volozh called Russia's war in Ukraine "barbaric" after staying silent following the initial invasion on Feb. 24, 2022.
Thu, 15 Feb 2024 10:31:12 +0000	Russia's Yandex reports full-year revenue jump, spinoff in focus Russian search engine giant Yandex on Thursday reported a 53% jump in full-year revenue to 800.1 billion roubles ($8.72 billion), driven by organic growth across the business, from search and advertising to e-commerce and ride-hailing. Yandex's Nasdaq-listed and Dutch-registered parent, Yandex NV, last week agreed to spin off some assets in a cash and shares deal worth $5.2 billion, a far cry from the company's value before Moscow sent its army into Ukraine in February 2022. In a world where Western firms have left Russia in droves, sometimes for a nominal fee, and Moscow has unilaterally seized foreign-owned assets, there is a sense of relief, if not triumph after 18 months of tense negotiations, according to nine people familiar with the negotiation process Reuters spoke to.
Thu, 15 Feb 2024 10:27:54 +0000	UPDATE 1-Russia's Yandex reports full-year revenue jump, spinoff in focus Russian search engine giant Yandex on Thursday reported a 53% jump in full-year revenue to 800.1 billion roubles ($8.72 billion), driven by organic growth across the business, from search and advertising to e-commerce and ride-hailing. Yandex's Nasdaq-listed and Dutch-registered parent, Yandex NV, last week agreed to spin off some assets in a cash and shares deal worth $5.2 billion, a far cry from the company's value before Moscow sent its army into Ukraine in February 2022. , according to nine people familiar with the negotiation process Reuters spoke to.
Fri, 09 Feb 2024 09:40:58 +0000	FOCUS-After months of negotiation, a rare Russian compromise as Yandex changes hands Before Moscow's invasion of Ukraine two years ago, Russia's Nasdaq-listed search engine giant Yandex was briefly worth $30 billion. In normal times, that would represent a disaster for Dutch parent company Yandex NV and its Western shareholders. But in a world where Western firms have left Russia in droves, sometimes for a nominal fee, and Moscow has unilaterally seized foreign-owned assets, there is a sense of relief, if not triumph after 18 months of tense negotiations.
Fri, 09 Feb 2024 09:07:42 +0000	After months of negotiation, a rare Russian compromise as Yandex changes hands Before Moscow's invasion of Ukraine two years ago, Russia's Nasdaq-listed search engine giant Yandex was briefly worth $30 billion. In normal times, that would represent a disaster for Dutch parent company Yandex NV and its Western shareholders. But in a world where Western firms have left Russia in droves, sometimes for a nominal fee, and Moscow has unilaterally seized foreign-owned assets, there is a sense of relief, if not triumph after 18 months of tense negotiations.
Thu, 08 Feb 2024 07:35:49 +0000	UPDATE 2-Yandex management to be largest shareholder after planned $5.2 bln deal An entity formed of senior Yandex managers will become the Russian internet company's largest shareholder with a 35% stake should a $5.2 billion cash and share deal go through, Yandex NV said in a shareholder circular on Thursday. The 475 billion rouble deal, announced on Monday, to sell what has been dubbed "Russia's Google" to a consortium of Russian investors would be one of the largest and most significant corporate transactions since Russia invaded Ukraine in February 2022. Yandex NV, the group's Dutch-registered holding company, said the divestment of its Russia-based businesses, which account for more than 95% of Yandex's revenue, would be put to a shareholder vote on March 7.
Mon, 05 Feb 2024 13:29:51 +0000	The owners of Russia's tech pioneer Yandex are selling — at a big, Kremlin-required discount The Dutch parent of pioneering Russian tech company Yandex is selling its operations in the country at a steeply discounted price of just over $5 billion to its Russia-based managers and oil company Lukoil, one of the biggest deals for Western-held companies to exit Russia since the invasion of Ukraine. The price reflects a 50% discount that Moscow imposes on companies from “unfriendly” countries like the Netherlands as a condition of exiting business in Russia, according to a statement Monday from Nasdaq-exchange listed Yandex NV. It follows drawn-out negotiations that show the complexities international companies must navigate if they want to unload their Russian businesses, which many have been struggling to do since President Vladimir Putin's February 2022 invasion of Ukraine and the sweeping financial and economic sanctions that followed.
Mon, 05 Feb 2024 10:46:33 +0000	Explainer-Why the $5.2 billion sale of Russia's Yandex is significant A $5.2 billion cash and share deal to sell the key Russian assets of technology group Yandex, often labelled as "Russia's Google", to a consortium of Russian investors was announced on Monday after months of negotiations. Moscow has long sought to gain more influence over Yandex, set up in the dotcom boom in the late 1990s, as it became a key player in online services such as search and advertising, email, ride-hailing, e-commerce, cloud and streaming. The sale to a group of Russian investors would bring Yandex under the control of only Russian entities for the first time.
Mon, 05 Feb 2024 10:43:07 +0000	EXPLAINER-Why the $5.2 bln sale of Russia's Yandex is significant A $5.2 billion cash and share deal to sell the key Russian assets of technology group Yandex , often labelled as "Russia's Google", to a consortium of Russian investors was announced on Monday after months of negotiations. Moscow has long sought to gain more influence over Yandex, set up in the dotcom boom in the late 1990s, as it became a key player in online services such as search and advertising, email, ride-hailing, e-commerce, cloud and streaming. The sale to a group of Russian investors would bring Yandex under the control of only Russian entities for the first time.
Mon, 05 Feb 2024 09:32:05 +0000	UPDATE 1-Kremlin welcomes deal to separate Russian assets of 'national champion' Yandex The Kremlin said on Monday it welcomes a $5.2 billion deal separating the Russian assets of technology company Yandex into a Russian-owned entity. The Kremlin has been engaged in negotiations with Yandex for around 18 months to try and spin off its Russian businesses from Yandex NV, its Dutch parent company. Kremlin spokesman Dmitry Peskov called the company a "national champion" and a significant employer.
Mon, 05 Feb 2024 06:13:04 +0000	Search engine Yandex owner to exit Russia in $5.2 billion deal LONDON (Reuters) -Yandex NV has struck a 475-billion-rouble ($5.21 billion) deal to sell what has been dubbed "Russia's Google" to a group of Russian investors, marking the biggest corporate exit from the country since Moscow invaded Ukraine almost two years ago. The Kremlin-engineered deal would see Russia's largest technology player fall entirely under Russian ownership, including a fund ultimately owned by oil major Lukoil, and cement Yandex's departure from Western tech circles. Once seen as one of the few Russian companies with the potential to become a global business, Nasdaq-listed Yandex had developed leading online services, including search, advertising and ride-hailing in Russia.
Mon, 05 Feb 2024 06:05:06 +0000	UPDATE 5-Search engine Yandex owner to exit Russia in $5.2 bln deal Yandex NV has struck a 475-billion-rouble ($5.21 billion) deal to sell what has been dubbed "Russia's Google" to a group of Russian investors, marking the biggest corporate exit from the country since Moscow invaded Ukraine almost two years ago. The Kremlin-engineered deal would see Russia's largest technology player fall entirely under Russian ownership, including a fund ultimately owned by oil major Lukoil, and cement Yandex's departure from Western tech circles. Once seen as one of the few Russian companies with the potential to become a global business, Nasdaq-listed Yandex had developed leading online services, including search, advertising and ride-hailing in Russia.
Mon, 05 Feb 2024 06:00:29 +0000	Yandex NV agrees $5.2 bln sale of Russian assets to investor consortium Nasdaq-listed technology company Yandex NV on Monday said it had agreed a 475-billion-rouble ($5.21 billion) cash and shares deal to sell its Russian assets to a consortium of Russian investors, including a fund ultimately owned by oil major Lukoil. Often referred to as "Russia's Google", tech firm Yandex developed leading online services, including search, advertising and ride-hailing, and was one of the few Russian companies with the potential to become a global business until Moscow invaded Ukraine in February 2022. Yandex and the Kremlin have been engaged in negotiations for around 18 months to try and spin off Yandex's Russian businesses from its Dutch parent company, Yandex NV.
Tue, 23 Jan 2024 08:24:44 +0000	UPDATE 2-Russian rouble eases as govt proposes capital controls extension The rouble eased after hitting a one-week high against the dollar on Tuesday as the Russian government proposed extending capital controls that have buoyed the currency in recent months until the end of the year. The capital controls, ordered by President Vladimir Putin in an October decree, require exporters to convert foreign currency revenues into roubles. The rouble had traded past 100 to the dollar shortly before the decree was announced.
Mon, 25 Dec 2023 16:47:46 +0000	UPDATE 1-Yandex's restructuring deal expected to be delayed to next year The completion of Nasdaq-listed Russian tech company Yandex's restructuring is expected to be postponed until early 2024, three sources familiar with the negotiations told Reuters on Monday. Often referred to as "Russia's Google", tech firm Yandex was one of the few Russian companies with the potential to become a global business until Moscow sent troops into Ukraine in February 2022. For more than a year, Yandex and the Kremlin have been engaged in negotiations to try spin off Yandex's Russian businesses from its Dutch parent company, Yandex NV.