A Russian consortium has unveiled the terms of a cash and share deal worth $5.2 billion to acquire the Russian assets of technology group Yandex from its Dutch parent company, Yandex NV.
The consortium expects to acquire a maximum of 107,729,866 shares of Yandex NV through a purchase and swap.
Each Yandex NV share will be bought back at a price of 1,251.8 Russian roubles, with the swap occurring at a 1:1 ratio.
Yandex NV had announced its decision to sell off its Russian-based businesses in April, with the total consideration amounting to 475 billion Russian roubles ($5.2 billion), payable in a combination of cash and shares.