Yandex NV, often referred to as "Russia's Google," has finalised a deal worth 475 billion roubles ($5.21 billion) to sell its major businesses to a consortium of Russian investors, as reported by Reuters.

"Russia's Google" Yandex to exit in $5.2 billion deal, a historic corporate shift

The anticipated completion of Yandex's restructuring, a Nasdaq-listed Russian tech company is likely to be postponed until early 2024, Reuters reported. Often dubbed ‘Russia's Google’, Yandex has been in talks with the Kremlin for over a year to separate its Russian businesses from its Dutch parent company, Yandex NV.

Yandex's restructuring faces delay, expected to extend into 2024

Russian tech giant Yandex may have missed a government takeover, thanks to Kremlin's fear of a massive brain drain, a Reuters report said quoting sources. Yandex, popular known as the Russian equivalent of Google, has been facing a major 'brain drain', with talented employees looking for greener pastures abroad.

Yandex, Russia's tech giant, faces a 'brain drain'. Here's why

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"Russia's Google" Yandex to exit in $5.2 billion deal, a historic corporate shift

Yandex's restructuring faces delay, expected to extend into 2024

Yandex, Russia's tech giant, faces a 'brain drain'. Here's why