A deal to split the assets of Russian technology company Yandex was finalized on July 15, with a Russian consortium of investors buying the bulk of Yandex's businesses in a cash and shares deal worth around $5.4 billion. The split marks the end of foreign ownership in Yandex, often dubbed "Russia's Google," while potentially tightening the Kremlin's control of the Internet space in Russia. The move is the largest corporate exit from Russia since Moscow invaded Ukraine over two years ago. Yandex's Dutch parent company Yandex NV (YNV) said it had sold its remaining minority 28 percent stake as part of the deal's second closing. Yandex blazed a trail for Russian technology after setting up in the late 1990s dot-com boom.
Yandex Split Finalized As Russian Assets Sold In $5.4 Billion Deal
Yandex's logo on a laptop screen