Roman Abramovich acquires a share in the largest Russian Internet company “Yandex”, according to Bloomberg.
the investment Company of Roman Abramovich Millhouse becomes one of the shareholders of the company “Yandex”, together with Alexander Abramov and Alexander Frolov, as well as Bank “VTB Capital” (investment division of VTB) bought a stake of Yandex as part of the sale of shares for $1 billion to Fund growth and strategic projects.
Yesterday, shares of “Yandex” has updated the historical maximum, rising 3.1% to 3450 rubles apiece in early trading on the “Moscow stock exchange”. The reason was the news about raising $ 400 million, more than double the previously planned level.
during the accelerated placement of shares of a Russian company could sell 8 million new class A shares at a price of 49.25 dollar for the security. Earlier, through an accelerated placement of shares was planned to raise $ 200 million, but only in the framework of attracting additional funds “Yandex” are expected to sell new shares worth $ 800 million. Now the company intends to attract $ 1 billion from the sale of new shares.
Investment is being attracted “to Finance further business growth and strategic initiatives, including e-Commerce.” Previously, “Yandex” and Sberbank announced that it was ceasing cooperation on its joint ventures.
Just the division of assets, “Yandex” will spend about $ 570 million. Share in “Yandex.Market” Russian search engine will buy “savings” over 42 billion rubles. Sberbank will buy the partner’s share in “Yandex.Money” for 2.4 billion rubles and will become the sole owner of the service.
Thus, “Yandex” for the redemption of shares and sale of shares to increase the cache for about $430 million Deal with “Sberbank” is scheduled for completion in the third quarter after approval by the Federal Antimonopoly service of Russia.
