Yandex's $5.2 Billion Exit from Russia: A Record Wartime Deal

Yandex NV, often referred to as "Russia's Google," has agreed to a $5.21 billion deal to sell its businesses to a group of Russian investors, marking the largest corporate exit from Russia since the country's invasion of Ukraine. The deal will result in Yandex falling entirely under Russian ownership, including a fund ultimately owned by oil major Lukoil, and will see the company's departure from Western tech circles. The sale reflects a significant discount from Yandex's previous market value, and the company plans to delist its Class A shares from the Moscow Exchange. Yandex NV will retain a portfolio of early-stage tech businesses and core intellectual property assets, while emphasizing its commitment to remaining independent.