A consortium in Russia has outlined the conditions for acquiring the Russian operations of tech giant Yandex from its Dutch parent company, Yandex NV. The deal, announced on Monday, involves a combination of cash and shares.
The purchasing group plans to acquire up to 107,729,866 shares of Yandex N.V., using both a buyback scheme and a share swap arrangement. The buyback price has been set at 1,251.8 roubles per share of Yandex NV. Shares will be exchanged on a one-for-one basis.
In April, Yandex NV revealed its decision to sell its businesses located in Russia.
The total transaction value was pegged at 475 billion roubles (approximately $5.2 billion), to be paid through a mix of cash and stock.