Yandex N.V., the Netherlands-registered parent company of Russia-based Yandex IT conglomerate Yandex, and Consortium.First, which is owned by private investors in Russia, have agreed to extend the first stage of the sale of the former’s Russian assets from April 2 to April 30, Yandex N.V. has announced.

Yandex N.V. confirmed that it had received both shareholder approval and all the necessary permissions from the Russian government to complete the restructuring. However, it added that some conditions remained to be satisfied and that the deal thus required more time for completion.

Yandex N.V. also reported that it had completed the group’s internal reorganization. All of Yandex’s assets and operations in Russia and certain international markets are now held by IPJSC Yandex, an international public joint stock company incorporated in the Russian exclave of Kaliningrad. The latter recently applied for a primary listing on the Moscow Exchange.

The deal between Yandex N.V. and Consortium First involves the sale of the former’s Russian business for RUB475 billion rubles ($5.2 billion U.S.) payable in a combination of cash and Class A shares.

Yandex owns Russia-based classifieds sites, Yandex Real Estate and Yandex Rent.

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