MOSCOW, March 7. /TASS/. Shareholders of Yandex N.V., the parent company of the Russian Yandex company, approved its sale at the meeting, the technology company said.

Completion of the first stage of the deal, the redemption of up to 68% in IJSC Yandex by the Consortium. First mutual investment fund is expected in coming weeks.

The Russian commission on control over foreign investments already approved the transaction. "The transaction amount remains unchanged. As we said earlier, it will total 475 bln rubles ($5.23 bln)," Yandex told TASS.

The sale of the Yandex business to the consortium of private investors was announced on February 5, 2024. The Consortium. First headed by Yandex managers will be the major owner. Co-owners of the Fund will have stakes from 10% to 35%.