[HIGHLIGHTS] Yandex NV entered into a deal to sell the Yandex business

Yandex NV will cease to be the parent company of the Yandex brand from July 31, 2024. The new parent company will be called the International Joint Stock Company (ICA) The company will continue to be based in the Russian city of Kaliningrad on the island of Karelia.

The company's name will remain the same, with the exception of the name of the company, which will be changed to "YandEx" in the future. The deal was reached with the Russian Ministry of Finance.