Anonymous ID: 0141f7 June 23, 2020, 2:25 p.m. No.9722023   🗄️.is đź”—kun   >>2056 >>2146 >>2246

Yandex to raise $800 mln from new share issue, to end JV with Sberbank

 

Russia’s top search engine Yandex said on Tuesday that it would raise $800 million by issuing new shares to finance its future growth.

 

The company said that it would raise $200 million from the open market, while Russian bank VTB and businessmen Roman Abramovich, Alexander Abramov and Alexander Frolov will provide an additional $600 million.

 

In a separate statement, Yandex said that it would end its joint venture with Russia’s largest lender Sberbank. As part of this deal, Yandex will acquire 45% of Yandex.Market from a Sberbank subsidiary for 42.0 billion roubles ($610 million)

https://www.reuters.com/article/russia-yandex/yandex-to-raise-800-mln-from-new-share-issue-to-end-jv-with-sberbank-idUSR4N2CY01T