E.U. lifts sanction on Russian-Jewish technocrat Arkady Volozh ahead of merger between Yandex and Dutch company
15.07.2024
Yandex co-founder Arkady Volozh will head the Dutch company Nebius Group, which will be formed from Yandex N.V., which today closed the transaction for the sale of Yandex's Russian business and completely left the group's shareholders. This is reported by Bloomberg, citing sources. According to them, the appointment will take place immediately after the shareholders agree on the change of the company name.
The upcoming renaming of the holding was announced by the Dutch Yandex N.V. immediately after the closing of the transaction, the first stage of which was completed in May. With the closure of the second stage, the entire business of Yandex in Russia and most of its projects abroad moved to a consortium of Russian investors and managers - CPIF Consortium.First. The amount of the transaction amounted to 475 billion rubles.
The name of the Dutch company should be changed before July 31. By the same date, Yandex N.V. undertook to stop using Yandex brands. The company promised to publish detailed information about the enterprises that remained under its management in the near future, as well as to present the management. The Yandex NV representative refused to comment on the information about the appointment of Volozh to the post of general director. Previously, the company allowed his return to management through super voting shares.
Arkady Volozh left all positions in the management of Yandex in June 2022 after his inclusion in the sanctions list of the European Union. In March, the EU removed Volozh from the sanctions lists.