Advertisement
UK markets closed
  • NIKKEI 225

    39,103.22
    +486.12 (+1.26%)
     
  • HANG SENG

    18,868.71
    -326.89 (-1.70%)
     
  • CRUDE OIL

    76.94
    +0.07 (+0.09%)
     
  • GOLD FUTURES

    2,333.20
    -4.00 (-0.17%)
     
  • DOW

    39,065.26
    -605.78 (-1.53%)
     
  • Bitcoin GBP

    53,257.46
    -1,160.95 (-2.13%)
     
  • CMC Crypto 200

    1,467.67
    -34.99 (-2.33%)
     
  • NASDAQ Composite

    16,736.03
    -65.51 (-0.39%)
     
  • UK FTSE All Share

    4,543.84
    -16.71 (-0.37%)
     

Russian consortium announces terms for $5.2 bln Yandex cash and share deal

MOSCOW, May 13 (Reuters) - A Russian consortium announced terms on Monday to buy the Russian assets of technology group Yandex from Dutch parent company Yandex NV in a cash and share deal.

The consortium said it expects to receive no more than 107,729,866 shares of Yandex N.V via a purchase and swap. The buyback will take place at a price of 1,251.8 roubles per Yandex NV share. The swap will be done at a 1:1 ratio.

Yandex NV announced the agreement to divest its Russia-based businesses in April for a total consideration of 475 billion roubles ($5.2 billion), payable in a combination of cash and shares.

(Reporting by Gleb Stolyarov Writing by Maxim Rodionov; Editing by Mark Trevelyan)