2024-05-17 12:10:00
Picture: Pavel Bedniakov/RIA Novosti
Moscow. Might 17. INTERFAX.RU – Dutch Yandex NV (YNV) closed the primary half gross sales operations The Russian firm “Yandex” has joined the consortium of closed mutual funds “Consortium.First”, Yandex reported.
As a part of this, YNV offered 68% of MKPAO Yandex shares (this consists of the money half and the switch of as much as 67.8 million class A shares). Thus, MKPAO grew to become a brand new holding firm for Yandex’s Russian property.
One other 3.7% of shares have already been offered to Yandex.Applied sciences LLC for a future worker motivation program.
The entire quantity of the corporate’s sale transaction is estimated at 475 billion rubles ($5.2 billion).
In response to the Dutch firm, because of the second stage of the transaction, YNV will obtain as much as 108 million YNV Class A shares and the remaining quantity (if any) in Chinese language yuan.
With the closing of the primary stage of the transaction, a number of board members are leaving the board of administrators of Yandex NV, the report notes. In consequence, Almaz Capital Companions co-founder and normal companion Charles Ryan, Roger Riinia (beforehand held positions at Apple and several other Dutch firms) and chairman of funding agency Firehouse Capital Inc John Boynton (at present chairman of the board of administrators) will retain their seat on the board of administrators.
At the moment, the whole variety of issued and excellent shares of Yandex NV is 293.9 million (together with lessons A and B). The Class A securities obtained within the transaction might be retained on the Firm’s stability sheet till YNV implements plans to drive fairness development.
The second a part of the deal is predicted to be finalized in July this 12 months.
Moreover, the delisting of YNV and the beginning of buying and selling of MKPAO shares are anticipated in July. MKPAO shares will commerce beneath the image YDEX.
At this time, the primary shareholder of MKPAO – the closed mutual fund “Consortium.First” – introduced the launch of a suggestion for the change and repurchase of shares of Yandex NV (YNV). The change might be carried out at a ratio of 1:1 and the buyback might be carried out at RUB 1,251.8 per share. Redemption is accessible to traders who transferred the securities to the Russian depository earlier than November 30, 2023.
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