Amsterdam-based Nebius Group hires Goldman Sachs ahead of Nasdaq relisting
Oct 2 (Reuters) -Nebius Group, which emerged from a split of the assets of Russian tech giant Yandex, has hired Goldman Sachs as a financial and strategic adviser as it talks to Nasdaq about resuming trade in its shares, the Amsterdam-based firm said on Wednesday.
A Russian consortium in July finalised a $5.4 billion deal to buy Yandex's Russia-based assets in a move that hived off foreign assets in the largest corporate exit since Russia's invasion of Ukraine in February 2022, albeit at a big discount.
Freed from its ties to Russia, Nebius plans to join a drive to build infrastructure underpinning artificial intelligence, founder and CEO Arkady Volozh told Reuters in July. Nebius plans to invest more than $1 billion by mid-2025.
"We have a strong cash position of over $2 billion and are already investing in building out our network of GPU clusters," Volozh said in a statement.
"With additional resources, we believe we could do this even faster and on a larger scale, enabling us to further capitalise on substantial growth in demand from AI builders globally."
Nebius said it was discussing with Nasdaq on the best timing to reinstate trading of its Class A shares, to ensure the smooth resumption of trading.
"We will keep the market updated," Nebius said.
Reporting by Alexander Marrow; editing by Jason Neely
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