Yandex (YNDX) has released an update.
Yandex N.V., a leading Dutch tech firm, has struck a deal to offload its Russian and certain international businesses for a valuation of RUB 475 billion, with transactions involving cash and Class A shares. The divestiture represents over 95% of Yandex’s revenue and assets, marking a significant shift in the company’s strategy as it plans to rebrand and focus on its remaining international AI and tech ventures. Shareholders can expect a potential return of capital through a share repurchase offer after the deal’s finalization.
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