Tech & Science Yandex Confirms Discussions with Tinkoff Staff Nasdaq:YNDX

Yandex Confirms Discussions with Tinkoff Staff Nasdaq:YNDX

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MOSCOW and AMSTERDAM, Sept. 22, 2020 (GLOBE NEWSWIRE) — Yandex N.V. (NASDAQ and MOEX: YNDX) (“Yandex,” “we” or the “Corporate”), certainly one of Europe’s greatest web corporations and the main seek and ride-hailing supplier in Russia, these days showed that it’s in discussions with TCS Staff Preserving PLC (“Tinkoff”) relating to a conceivable be offering by means of Yandex for 100% of the percentage capital of Tinkoff (the “Possible Transaction”).

The events have come to an settlement in idea on a transaction that will consist of money and percentage attention value roughly $5.48 billion or $27.64 in step with Tinkoff percentage, which, in keeping with the last value of Yandex stocks on September 21, 2020, would constitute a top rate of roughly:

  • 8.0% to the last value in step with Tinkoff GDR of $25.60 on September 21, 2020;
  • 10.4% to the quantity weighted moderate last value in step with Tinkoff GDR of $25.04 for the one-month length ended on September 21, 2020; and
  • 16.9% to the quantity weighted moderate last value in step with Tinkoff GDR of $23.65 for the three-month length ended on September 21, 2020.

The overall phrases are topic to the enough of entirety of due diligence and settlement on definitive documentation, together with settlement relating to stipulations to last. There will also be no walk in the park that any company be offering can be made for Tinkoff, nor as to the general phrases on which any company be offering may well be made.

The present purpose of Yandex and Tinkoff is for the Possible Transaction to be carried out by the use of a scheme of association of Tinkoff underneath Cyprus legislation.

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The Proposed Transaction can be topic to the approval of Yandex’s Elegance A shareholders and Normal Assembly of shareholders. If the Possible Transaction proceeds, Yandex will supply realize of its shareholders conferences and accompanying documentation in the end.

Ahead-Having a look Statements

All statements integrated on this press liberate, rather then ancient knowledge or statements of ancient reality, are “forward-looking statements” inside the that means of Phase 27A of the Securities Act of 1933 and Phase 21E of the Securities Trade Act of 1934. Those forward-looking statements, together with statements in regards to the Possible Transaction, are in keeping with control’s present expectancies and are topic to dangers, uncertainties and adjustments in instances. Accordingly, the Corporate cautions that the forward-looking statements contained herein are certified by means of necessary elements and uncertainties that would motive exact occasions to fluctuate materially from the ones mirrored by means of such statements. Such elements and uncertainties come with, however aren’t restricted to, the hazards which are detailed every so often within the Corporate’s filings with the Securities and Trade Fee (“SEC”). For more info at the elements that would impact the Corporate’s monetary effects and industry, assessment the Corporate’s filings with the SEC, together with, however now not restricted to, our Annual Document on Shape 20-F for the yr ended December 31, 2019, which is on document with the U.S. Securities and Trade Fee (SEC) and is to be had on our investor family members web page http://ir.yandex.com/sec.cfm and at the SEC web page at www.sec.gov. All knowledge on this liberate is as of September 22, 2019, and Yandex undertakes no responsibility to replace this data except required by means of legislation.

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About Yandex

Yandex (NASDAQ and MOEX: YNDX) is a generation corporate that builds clever services powered by means of device studying. Our purpose is to assist shoppers and companies higher navigate the web and offline global. Since 1997, we now have delivered world-class, in the community related seek and knowledge products and services. Moreover, we now have advanced main on-demand transportation products and services, navigation merchandise, and different cellular programs for tens of millions of customers around the globe. Yandex, which has 34 places of work international, has been indexed at the NASDAQ since 2011.

Contacts:

Investor Family members

Yulia Gerasimova
Telephone: +7 495 974-35-38
Electronic mail: [email protected]

Press Place of job

Ilya Grabovskiy
Telephone: +7 495 739-70-00
Electronic mail: [email protected]

 

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