The NASDAQ-listed company, best known as the parent of the “Russian Google”, has completed the biggest exit from the Russian market since the full-scale invasion of
The Russian directors have now left the YNV board, putting the company in the hands of the international members, led by long-serving chairman
YNV’s former Russian assets are now controlled by a consortium led by Yandex Russia’s management team and its financial backers.
In short, the international AI businesses are now free to move on. YNV said it expects to announce a new management team and group strategy in the company months. Since the EU removed sanctions earlier this year, there has been considerable speculation that
YNV said it sold approximately 68% of the assets being divested and had received the funds due at first close, without disclosing the amount. Based on the total transaction valuation of
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