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Russia Issues Arrest Warrant In Absentia For Writer, War Critic Akunin [Video]

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Yandex, once dubbed Russia’s Google for becoming the country’s dominant online search engine, will exit Russia entirely, selling its assets there in a deeply discounted $5.2 billion deal that marks the end of an era.

Under the agreement announced on February 5 by Yandex’s Netherlands-based corporate parent, a “purchaser consortium” that includes the company’s management, an investment fund linked to Russian oil giant LUKoil, and three other businessmen will take over Yandex’s operations inside Russia.

The Russian entity, meanwhile, takes over the vast bulk of the company’s revenue-generating businesses, including the country’s dominant search engine, and also major operations in things like online shopping, advertising, food delivery, taxis, maps, and other things.

The Dutch parent is expected to retain control of several non-Russian businesses, including operations in cloud computing, self-driving cars, and a number of patents and other intellectual property licenses.

The price takes into account a 50 percent discount mandated by law on …

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