Yandex has announced plans to spin off its Yandex Market division into a separate legal entity. This decision was made during an extraordinary meeting of the company’s participants, leading to the creation of a new limited liability company, Yandex Market LLC.
The reorganization will see Yandex Market LLC take on certain rights and obligations currently held by Yandex, as specified in the transfer act. According to representatives from the marketplace, this move is primarily a technical one, aimed at optimizing the structure of Yandex’s legal entities.
Importantly, the spin-off will not impact the operation of Yandex Market. A company spokesperson emphasized that the transition will be seamless for the service’s partners, ensuring continuity in its marketplace activities.
This is not the first time Yandex Market has operated as an independent entity. From 2016 to 2021, Yandex Market existed as a separate legal entity before being merged back into Yandex LLC. The decision to once again establish Yandex Market as a standalone company reflects Yandex’s ongoing efforts to streamline its business operations.
Source: Prime