Yandex Investor Hires Morgan Stanley in $710 Million Sale
This article is for subscribers only.
Yandex NV investor Baring Vostok Capital Partners plans to sell almost its entire holding in Russia’s largest search-engine operator within a year, potentially making a more than 700-fold gain.
Baring Vostok gave Morgan Stanley the mandate to sell as many as about 20 million shares through June 5, 2015, Yandex said in a regulatory filing. This stake of more than 6 percent is worth about $710 million, based on the closing price in New York on Friday. Yandex fell 1.4 percent to $34.05 at 11:03 a.m. today.