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Russia’s Google Yandex Navigates Strategic Turn, Divests Russian Assets for Over $5B

By Lekha Gupta
February 5, 7:14 AM
The Dutch holding company behind Yandex NV seals a $5.21 billion deal, selling its Russian and select international businesses. This divestment, subject to a 50% discount approval by Russia's government, aims to recover value for shareholders. Yandex plans to refocus on four international business lines post-transaction, emphasizing growth and unlocking new potentials.

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2 minute read

Canadian Company Lifeist Says Farewell To Cannabis Business Unit, Turns To Nutraceuticals

By Jelena Martinovic
February 2, 1:15 PM
Canadian wellness company Lifeist has agreed to sell its CannMart cannabis subsidiaries to 1463663 B.C. for $3.72m. The deal, which is expected to improve cash flow and operational costs, will see all shares of the CannMart Group transferred to the buyer. The consideration of $5m plus adjusted inventory will be paid to Lifeist as follows: $500,000 cash will be paid upon the transaction's completion, with a further $4.5m in a senior secured vendor takeback loan paid through monthly repayments. Additionally, Lifeist will receive equity warrants to acquire 9.9% of Tierra Corp's equity, as parent company of 1463663 B.C. Once the deal is finalised, Lifeist will be freed to operate in the nutraceutical sector, with North America's $88.3bn predicted to grow to $118.7bn by 2028, according to the company.

LFST