“Yandex NV will cease to be the parent company of the group. Until July 31, 2024, it will change its name and stop using Yandex brands,” the company said in a statement.
The press release clarifies that the new parent company will be the International Joint Stock Company (ICAO) “YANDEX” - its shares will be listed on the Moscow Exchange. Artyom Savinovsky will remain the CEO.
It is noted that the businesses, services and assets of the Dutch group will be preserved in full with the exception of foreign startups, including Nebius, Toloka, Avride and TripleTen, as well as a data center in Finland.
Earlier it was reported that Yandex registered in the territory of the special administrative region on Oktyabrsky Island in the Kaliningrad region.