The purchase price would correspond of cash and share consideration. Under the terms of the sale, YandexN.V. will pay $27.64 per TCS Group Holding PLC share. The final terms are subject to the satisfactory completion of due industriousness and agreement on definitive attestation, including agreement regarding conditions to ending. The sale would be subject to the blessing of Yandex's Class A shareholders and General Meeting of shareholders and Russia's Federal Antimonopoly Service. Vladimir Blinov, Sergey Zyryaev, James Robinson and Jonty Edwards of J.P. Morgan acted as fiscal counsels to TCS Group Holding PLC. Morgan Stanley (NYSEMS) acted as fiscal counsel to YandexN.V.
YandexN.V. cancelled the accession of TCS Group Holding PLC from Guaranty Nominees Limited and others on October 16, 2020. The parties in the sale have mutually agreed to terminate conversations regarding a possible offer by Yandex for 100% of the share capital of Tinkoff.
