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Russian consortium sets terms for $5.2bln Yandex deal

A Russian consortium announced terms on Monday to buy the Russian assets of technology group Yandex from Dutch parent company Yandex NV in a cash and share deal.

The consortium said it expects to receive no more than 107,729,866 shares of Yandex N.V via a purchase and swap. The buyback will take place at a price of 1,251.8 roubles per Yandex NV share. The swap will be done at a 1:1 ratio.

Yandex NV announced the agreement to divest its Russia-based businesses in April for a total consideration of 475 billion roubles ($5.2 billion), payable in a combination of cash and shares. Reuters

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