Russia’s Richest Man Gains Stake in Tech Giant Yandex (1)

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.

Vladimir Potanin

Photographer: Chris J. Ratcliffe/Bloomberg

Potanin’s holding company, Interros, controls Catalytic People both directly and through a subsidiary called T-Technologies.

“We see significant mutual ...