Debevoise & Plimpton LLP has advised the Special Committee of the Board of Directors of Nasdaq-listed Yandex N.V. (“Yandex”), one of Europe's largest internet companies and a leading tech business in Russia, on a complex and novel restructuring of its corporate governance.

The restructuring, which has been approved by the Board of Directors, seeks to balance the interests of the company’s stakeholders, including its public shareholders, with developments in Russia’s regulatory environment, including proposed limitations on foreign ownership of businesses.

The proposed amendments to the company’s corporate governance are subject to shareholder approval.

The Debevoise team advising the Special Committee was led by Moscow partner Alan Kartashkin and London partner James C. Scoville. Kemperink Maarschalkerweerd Wouters acted as co-counsel.

A copy of the Yandex press release can be found here.