14 November 2023
Yandex N.V., the parent company of Yandex, is considering selling all of its Russian assets at once. The final decision has not yet been made, but sources close to the situation confirm the likelihood of the scenario. The assets may be transferred to a holding company based in the Kaliningrad region, with potential buyers including Yandex management and other Russian investors. The deal is estimated to be worth 560 billion rubles ($6.18 billion) with a 50% discount requirement. However, there is a possibility that the sale of all assets may not occur. In the event of the sale, Yandex N.V. intends to compensate shareholders. Meanwhile, the company plans to expand its four other international business areas. Yandex N.V.'s financial report for Q3 2023 notes a 29% increase in total staff to 25,703 people, attributed to the expansion of the "Yandex.Search," "Yandex.Market," and "Yandex.Cloud" projects. Yandex has yet to comment on the situation.