Report: Yandex parent firm said may sell Russian assets at once

MOSCOW, Nov 15 (PRIME) -- Yandex N.V., a Dutch parent company of Russian Internet company Yandex, may see all its Russian assets at once instead of a controlling stake, Reuters reported late on Tuesday quoting three people close to the matter.

“With a Dubai board meeting scheduled in late November, the parties involved are hoping to reach an agreement in December, the people said. Any deal ultimately requires approval from shareholders and Russia’s government,” Reuters said.

Yandex did not comment on the matter.

One of the sources said that Yandex N.V. may sell 100% of a holding firm established in Russia’s Kaliningrad Region. Another source added that the complete exist was quite likely yet not decided.

One of the sources estimated the total value of the deal at 560 billion rubles after a 50% discount demanded by the government had been considered.

(91.2570 rubles – U.S. $1)

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