UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
December 21, 2021
YANDEX N.V.
Schiphol Boulevard 165
1118 BG Schiphol
Netherlands
+31 (0)20 206 6970
(Address, Including ZIP Code, and Telephone Number,
Including Area Code, of Registrant's Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F ___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Furnished as Exhibit 99.1 to this Report on Form 6-K is a press release of Yandex N.V. (the “Company”) dated December 21, 2021, announcing the completion of the restructuring of the Company’s joint venture with Uber, MLU B.V.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
YANDEX N.V.
Date: December 21, 2021By: /s/ Svetlana Demyashkevich
Svetlana Demyashkevich
Chief Financial Officer
INDEX TO EXHIBITS
|
Number |
Description |
|
99.1 |
Press Release of Yandex N.V. (the “Company”) dated December 21, 2021, announcing the completion of the restructuring of the Company’s joint venture with Uber, MLU B.V. |
Exhibit 99.1
Yandex Announces Completion of Restructuring of its Taxi Group Assets
Moscow, Amsterdam, December 21, 2021 – Yandex (NASDAQ and MOEX: YNDX), one of Europe's largest internet companies and the leading search and ride-hailing provider in Russia, today announced that it has completed the previously announced restructuring of the ownership of MLU B.V., its joint venture with Uber (“MLU”).
The restructuring was completed in two stages:
| ● | The acquisition by Yandex of Uber’s 18.2% interest in Self Driving Group and a 4.5% interest in MLU, which completed in September 2021; |
| ● | The acquisition of Uber’s interest in the demerged businesses Yandex.Eats, Yandex.Lavka and Yandex.Delivery, which completed on December 21, 2021. |
Following closing, Yandex owns:
| ● | 100% of Yandex Self-Driving Group |
| ● | Approximately 71% of MLU B.V. |
| ● | 100% of each of the Yandex Eats, Yandex.Lavka and Yandex.Delivery |
The total consideration was $1.0 billion in cash, of which $800 million was paid in September and the remaining $200 million has now been paid.
In addition, Yandex has received a two-year American call option to acquire the remaining 29% of Uber’s interest in the newly restructured MLU at a strike price of $1.8 billion, subject to agreed increases over the option period, going up to approximately $2.0 billion if exercised in September 2023. The newly restructured MLU will continue to focus on mobility businesses, including ride-hailing and car-sharing.
About Yandex
Yandex (NASDAQ and MOEX:YNDX) is a technology company that builds intelligent products and services powered by machine learning. Our goal is to help consumers and businesses better navigate the online and offline world. Since 1997, we have delivered world-class, locally relevant search and information services. Additionally, we have developed market-leading on-demand transportation and delivery services, navigation products, while also expanding into e-commerce, online entertainment, cloud computing and other markets to assist millions of consumers in Russia and a number of international markets. Yandex, which has over 30 offices worldwide, has been listed on NASDAQ since 2011 and on Moscow Exchange since 2014.
More information on Yandex can be found at https://yandex.com/company/.
Contacts:
Investor Relations
Yulia Gerasimova, Katya Zhukova
Phone: +7 495 974-35-38
E-mail: askIR@yandex-team.ru
Press Office
Ilya Grabovskiy, Asya Panoyan
Phone: +7 495 739-70-00
E-mail: pr@yandex-team.ru