Tech and Internet search company Yandex expects to complete earlier Russia sale deal in coming weeks

Mar 28, 202416:53 UTC

Yandex NV YNDX:

UPDATE ON THE DIVESTMENT OF ITS RUSSIA-BASED BUSINESSES
A DEFINITIVE AGREEMENT WITH A PURCHASER CONSORTIUM TO SELL ALL OF GROUP'S BUSINESSES IN RUSSIA & CERTAIN INTERNATIONAL MARKETS FOR RUB 475 BILLION, AS ANNOUNCED ON FEB 5
AS OF NOW, WE HAVE RECEIVED ALL NECESSARY REGULATORY APPROVALS IN RUSSIA FOR THIS SALE
As previously announced, the sale transaction will be implemented in two closings. We anticipate satisfaction of the remaining conditions to the first closing in the coming weeks.
To provide time to satisfy the remaining conditions to the first closing, the parties have mutually agreed to extend the long stop date under the Share Purchase Agreement between YNV and the Purchaser from April 2, 2024 to April 30, 2024.
PARTIES HAVE MUTUALLY AGREED TO EXTEND LONG STOP DATE UNDER SHARE PURCHASE AGREEMENT FROM APRIL 2, 2024 TO APRIL 30, 2024.