Yandex’s $1 Billion Public Offering and Private Placement

Latham & Watkins and NautaDutilh advised Goldman Sachs & Co. LLC, the sole underwriter and the sole placement agent in the public offering and concurrent private placement by Yandex.

The total number of new Class A shares issued in the public offering and the private placement by Yandex was 21,522,840 Class A shares. The aggregate gross proceeds were approximately US$1.06 billion, before deducting underwriting discounts and commissions, placement agent fees, and estimated aggregate offering expenses.

Yandex is Russia’s leading search and ride-hailing provider. Its goal is to help consumers and businesses better navigate the online and offline world.

The Latham team advising Goldman Sachs & Co. was led by Moscow corporate partners David Stewart (Picture) and Olga Ponomarenko, with London corporate associates Jennifer Gascoyne and Kelsey Moore, and Moscow finance associate Viktoria Petukhova.

NautaDutilh acted as Dutch counsel to Goldman Sachs, with a team consisting of Petra Zijp, Paul van der Bijl, Antonia Netiv, Sabrina Legerstee and Tessa van Berkum.

Involved fees earner: Jennifer Gascoyne – Latham & Watkins; Kelsey Moore – Latham & Watkins; Viktoria Petukhova – Latham & Watkins; Olga Ponomarenko – Latham & Watkins; David Stewart – Latham & Watkins; Sabrina Legerstee – NautaDutilh; Antonia Netiv – NautaDutilh; Tessa van Berkum – NautaDutilh; Paul van der Bijl – NautaDutilh; Petra Zijp – NautaDutilh;

Law Firms: Latham & Watkins; NautaDutilh;

Clients: Goldman Sachs & Co.;