How and to whom can a stake in the "Russian Yandex" be sold

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The next stage of the reorganization, according to this scenario, provides for the possibility of selling 51% of the "Russian Yandex" to investors, while Yandex NV will retain 49%.

"For the company, this is usa mobile number database an opportunity to retain international investors, and for them, income from the growth of the business value," explained a source familiar with the discussion of the reorganization scenarios, noting that this could be relevant for sellers in terms of a possible discount when selling the stake.

According to one of RBC's sources, the composition of investors has not yet been determined, but the company's managers insist on attracting private businessmen and have formed a preliminary list of those with whom they would be ready to begin negotiations on entering the capital of the "Russian Yandex".

The "broad" list of those who, in the opinion of management, could act as potential investors, includes 20 businessmen. In particular, it included senator, former main owner of gold mining company Polyus Suleiman Kerimov, chairman of the board of directors of NLMK Vladimir Lisin, co-owner of mineral fertilizer producer Akron Vyacheslav Kantor, LUKOIL shareholders Vagit Alekperov and Leonid Fedun, owner of the Renova Group Viktor Vekselberg, businessman Sergei Popov, Vladimir Kogan's family trust, founder of Magnit Sergei Galitsky, chairman of the board of directors of Kievskaya Ploshad God Nisanov, co-owner of mineral fertilizer producer PhosAgro Andrei Guryev, co-owner of Severstal, TUI AG, Power Machines, Nord Gold and Lenta Alexei Mordashov, co-owner of Evraz Alexander Abramov, founder of Wildberries Tatyana Bakalchuk, president of Interros and MMC Norilsk Nickel Vladimir Potanin, chairman of the board of NOVATEK Leonid Mikhelson, former co-owner of the Pipe Metallurgical Company and Sinara Dmitry Pumpyansky, the main owner of the Magnitogorsk Iron and Steel Works (MMK) Viktor Rashnikov, co-owner and president of the Mercury group of companies Igor Kesaev, as well as private investor Leonid Boguslavsky.

How the division of Yandex might go and who is laying claim to a share in the company

A Yandex representative declined to comment on either the reorganization scheme or the possible list of candidates for entry into the company's capital.

"This option of possible investors' entry into the capital of the "Russian Yandex" is indeed being discussed, but the final decision is very far away," says a source of RBC familiar with the discussion of the reorganization scenarios. He called the list of potential investors in the company inconclusive.

Another RBC source says that "many on this list will be surprised that they are even there."

"There are two problems with the possible deal. Firstly, private investors are not ready to pay much now because of the risk of sanctions. State and quasi-state market participants are ready to pay a lot. And for investors, profitability is a priority. Secondly, the problem for the buyer is that 51% of the economic interest is being sold, and all decisions in the company for five years will be made by a fund of managers," a source for RBC described the situation.

According to an investor familiar with Yandex's reorganization scenarios, the possibility of selling 51% of its Russian subsidiary for about $4 billion is currently being discussed, with the entire business valued at $8 billion.

“It is proposed to focus on market valuations,” he says.