Yandex split finalised as Russian assets sold in $5.4 bln deal

A deal to split the assets of Russian technology company Yandex was finalised on Monday, 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”, potentially tightening the Kremlin’s control of the internet space in Russia, while also finalising the largest corporate exit from Russia since Moscow invaded Ukraine over two years ago.