Yandex has marked a significant milestone by completing the registration of a new legal entity, MCAO “Yandex,” in the Special Administrative Region (SAR) of Oktyabrsky Island, Kaliningrad Region. This development, recorded in the SAR register, is part of Yandex’s broader restructuring plan announced in November 2022.
The establishment of MCAO “Yandex” is a strategic step in Yandex’s restructuring process, aimed at optimizing the legal entity structure within its group of companies.
The Yandex press service elaborated, “We continue to prepare for restructuring. Registration of a new legal entity is a necessary procedure for the future optimization of the structure of legal entities of a group of companies.”
Yandex’s restructuring initiative, disclosed last year, involves a significant transformation. The parent company, Yandex NV, is exploring the separation of its core business into an independent Russian group of companies. This separation is intended to facilitate Yandex NV’s eventual withdrawal from its shareholder position and a subsequent change in its name.
However, the new Russian structure of Yandex will retain the brand and include several international directions.
In March, it was revealed that Yandex NV could register a new legal entity in Kaliningrad’s SAR. This move is a precursor to the next reorganization phase, which might involve selling 51% of the “Russian Yandex” to investors, leaving 49% with Yandex NV.
Furthermore, in May, Yandex announced receiving applications from potential investors interested in purchasing various economic shares in the company. These applications underwent a thorough review by the Board of Directors and were scrutinized for compliance with sanctions restrictions.
Yandex’s strategic restructuring and the establishment of a new legal entity in Kaliningrad signify the company’s adaptive approach in a dynamically changing global business environment. This move not only positions Yandex for future growth but also reflects its commitment to compliance and strategic planning.
Source: RIA Novosti