Russia’s Richest Man Gains Stake in Tech Giant Yandex

Vladimir PotaninPhotographer: Chris J. Ratcliffe/Bloomberg

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By Yuliya Fedorinova and Alexander Sazonov

May 27, 2025 at 9:52 AM UTC

Updated on

May 27, 2025 at 12:46 PM UTC

Billionaire Vladimir Potanin acquired a stake in Yandex, Russia’s leading tech company, following the expiration of a lock-up period related to last year’s sale of the company’s local business by its Dutch-registered founder.

Catalytic People ILLC, a company affiliated with Potanin, purchased Meridian-Servis LLC, which had acquired a 10% stake in Yandex last year as part of the consortium that took over the entire business, according to data from a Russian corporate registry. The value of the deal wasn’t disclosed.