(In paragraph 4, corrects title of Arkady Volozh to executive

director)

MOSCOW, Aug 16 (Reuters) - Yandex NV ( YNDX ), the Dutch

company that finalised a split from Russian technology giant

Yandex ( YNDX ) last month, has renamed itself Nebius Group after the

change received shareholder approval, it said on Friday.

A Russian consortium of buyers in July finalised a $5.4

billion cash and shares deal to acquire Yandex's ( YNDX ) Russia-based

assets in the largest corporate exit since Russia's invasion of

Ukraine in February 2022, albeit at a hefty discount.

Freed from its ties to Russia, Nebius hopes to help lead the

drive to build infrastructure underpinning artificial

intelligence, founder Arkady Volozh told Reuters in July.

Volozh's appointment as executive director was approved by

shareholders, Nebius said. The company also approved a share

buyback.

Nebius hopes trading of its Nasdaq-listed shares will resume

in the coming months under a new ticker.