Yandex Unmoored from Yandex NV in Baltic Sea for $5.2 Billion
Posted: Wed Jan 22, 2025 3:51 am
of the closed-end mutual fund, owned by a consortium of investors headed by management. The closed-end mutual fund will buy 67.8 million shares from the Dutch Yandex NV for 230 billion rubles. And at the second stage, the closed-end mutual fund should make an offer to the company's shareholders to buy out the remaining 108.2 million shares, including various options.
"In our opinion, these options bahrain whatsapp number database imply an offer to buy out or exchange Yandex shares for securities of the new company - Yandex MKPAO," Vladimir Chernov told a ComNews correspondent. "After the first stage of the exchange of Yandex NV securities for shares of the new Yandex MKPAO is completed, at the second stage shareholders will be offered some options to exchange their securities or buy them out."
As Freedom Finance Global analyst told ComNews, Arkady Volozh's family trust owns 45.1% of the voting shares, 3.2% of the shares are held by other company employees, and the rest are in free circulation.
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Dutch Yandex NV will sell its business in Russia for 475 billion rubles to a consortium of four private investors and managers of the Russian Yandex. The buyers will pay half the amount outside Russia in yuan, and the rest will be covered by Yandex NV shares. The new ownership structure is designed so that no party has a controlling stake.
Experts' opinions are divided. Part of the community believes that Arkady Volozh, through his trusted persons - shareholders, will retain influence over Yandex after the deal. Another opinion is that he will retain shares, but will lose influence. His "fund of managers" still owns almost a third of the company, but will not necessarily follow his lead. The third opinion sounds unusually optimistic.
Associate Professor of the Financial University under the Government of the Russian Federation Petr Shcherbachenko spoke to a ComNews correspondent about the future of the IT giant: "Yandex will become an exclusively Russian IT company without the intervention of foreign capital from Western shareholders. The company is now also registered in Russia. Everything is as it should be for a responsible company in a socially oriented state. Further development of Yandex in Russia will be aimed at developing the Russian economy, including the development of the IT sector, raising the level of Russian IT specialists. All this will create an incentive for the development of the Russian IT education system and new digital technologies."
"Yandex, as a result of all the transformations, will become a fully Russian company. Whether it will be successful or not is another question," Vadim Plessky, an independent expert on IT and telecom markets, told a ComNews correspondent. "There is no longer an option to remain a subsidiary of Yandex NV. The future of the Russian Yandex is unclear."
"As a result of the restructuring, a significant part of the technological developments is transferred to the European company. What remains in Russia are clones of various foreign services. Given the lack of competition in a number of segments, such as search, Yandex will retain its dominant position. But the prospects for revenue growth are very limited. No breakthrough should be expected from the Russian Yandex. It is enough to recall Yandex Phone, which failed miserably. As soon as Yandex enters a market segment that has long been formed and in which there are already strong players, it has nothing to counter them with. Let's be honest, Yandex did not become a "Russian Google", and neither did it become a "Russian Amazon", - commented Vadim Plesskiy.
Leading analyst at Mobile Research Group Eldar Murtazin, who has called Yandex a Dutch company dozens of times in YouTube videos, admits that the company has taken a big step towards "Russian citizenship," but has not yet been able to overcome the influence of the previous management.
"In our opinion, these options bahrain whatsapp number database imply an offer to buy out or exchange Yandex shares for securities of the new company - Yandex MKPAO," Vladimir Chernov told a ComNews correspondent. "After the first stage of the exchange of Yandex NV securities for shares of the new Yandex MKPAO is completed, at the second stage shareholders will be offered some options to exchange their securities or buy them out."
As Freedom Finance Global analyst told ComNews, Arkady Volozh's family trust owns 45.1% of the voting shares, 3.2% of the shares are held by other company employees, and the rest are in free circulation.
Read also
Dutch Yandex NV will sell its business in Russia for 475 billion rubles to a consortium of four private investors and managers of the Russian Yandex. The buyers will pay half the amount outside Russia in yuan, and the rest will be covered by Yandex NV shares. The new ownership structure is designed so that no party has a controlling stake.
Experts' opinions are divided. Part of the community believes that Arkady Volozh, through his trusted persons - shareholders, will retain influence over Yandex after the deal. Another opinion is that he will retain shares, but will lose influence. His "fund of managers" still owns almost a third of the company, but will not necessarily follow his lead. The third opinion sounds unusually optimistic.
Associate Professor of the Financial University under the Government of the Russian Federation Petr Shcherbachenko spoke to a ComNews correspondent about the future of the IT giant: "Yandex will become an exclusively Russian IT company without the intervention of foreign capital from Western shareholders. The company is now also registered in Russia. Everything is as it should be for a responsible company in a socially oriented state. Further development of Yandex in Russia will be aimed at developing the Russian economy, including the development of the IT sector, raising the level of Russian IT specialists. All this will create an incentive for the development of the Russian IT education system and new digital technologies."
"Yandex, as a result of all the transformations, will become a fully Russian company. Whether it will be successful or not is another question," Vadim Plessky, an independent expert on IT and telecom markets, told a ComNews correspondent. "There is no longer an option to remain a subsidiary of Yandex NV. The future of the Russian Yandex is unclear."
"As a result of the restructuring, a significant part of the technological developments is transferred to the European company. What remains in Russia are clones of various foreign services. Given the lack of competition in a number of segments, such as search, Yandex will retain its dominant position. But the prospects for revenue growth are very limited. No breakthrough should be expected from the Russian Yandex. It is enough to recall Yandex Phone, which failed miserably. As soon as Yandex enters a market segment that has long been formed and in which there are already strong players, it has nothing to counter them with. Let's be honest, Yandex did not become a "Russian Google", and neither did it become a "Russian Amazon", - commented Vadim Plesskiy.
Leading analyst at Mobile Research Group Eldar Murtazin, who has called Yandex a Dutch company dozens of times in YouTube videos, admits that the company has taken a big step towards "Russian citizenship," but has not yet been able to overcome the influence of the previous management.