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Yandex considers option of governance transfer to Russian management

The company is also eyeing an option for a spin-off of its core business to a separate group of companies, Yandex said

MOSCOW, November 25. /TASS/. Yandex is considering an option of transferring governance of a group of companies intended for a spinoff to Russian management, the technology company said in its press release.

"An opportunity is also considered to change the corporate structure, whereby governance of a group of companies to be spun off will be transferred to Yandex management," the company said.

The company is also eyeing an option for a spin-off of its core business to a separate group of companies, Yandex said.

"Yandex N.V. is considering an option for a spinoff of its core business, including a number of foreign lines, to a separate group of companies that will keep the Yandex brand. The Netherlands-based Yandex N.V. plans to withdraw from the body of shareholders in this group of companies over time and change its name," the company said.

"These changes will help to support sustainable development of Yandex businesses on all markets. Yandex will continue developing as a private independent group of companies, operating on a local market and competing with local and global players," the company added.

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