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Yandex management group to become largest shareholder

Reuters
·1-min read

Feb 8 (Reuters) - An entity formed of senior Yandex managers will become the Russian internet company's largest shareholder with a 35% stake should a $5.2 billion cash and share deal go through, Yandex NV said in a shareholder circular on Thursday.

The 475 billion rouble deal, announced on Monday, to sell what has been dubbed "Russia's Google" to a consortium of Russian investors would be one of the largest and most significant corporate transactions since Russia invaded Ukraine in February 2022. ($1 = 91.2050 roubles)

(Reporting by Alexander Marrow and Gleb Stolyarov Editing by David Goodman )