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Yandex receives investors’ proposals to buy stakes in company

Once the details are finalized, the company will publish a shareholder circular and the proposed restructuring will then be subject to shareholder approval

MOSCOW, May 25. /TASS/. Yandex has received proposals from potential investors for different stakes in the company and proposals will be checked for compliance with sanction restrictions, the technology company said after the Board meeting.

"The proposals are for the acquisition of an economic interest in the businesses, with control remaining in the hands of management. The Board has not yet made a decision on the investment proposals. Any transaction will be done in strict compliance with all applicable sanctions requirements," Yandex said.

"The Board is still analyzing numerous options that could potentially be offered to the existing shareholders in the context of the restructuring; this analysis is ongoing," the company noted.

"We are progressing on plans for the divestment of ownership and control of a number of our core businesses, including all Russia-based businesses, and have received proposals from a number of potential investors. The Board also aims to enable the international divisions of certain services (self-driving, cloud computing, data labeling and ed-tech) to develop independently from the Russia-based businesses," Yandex informed.

"Once the details are finalized, the company will publish a shareholder circular and the proposed restructuring will then be subject to shareholder approval," the company added.