15:07 GMT +311 December 2019
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    CEO of RDIF Kirill Dmitriev and the Custodian of the Two Holy Mosques

    Deal With Saudi Aramco on Novomet Stake's Purchase Will Happen - RDIF CEO

    © Photo : Courtesy of Saudi Press Agency
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    ST.PETERSBURG (Sputnik) - The Russian Direct Investment Fund (RDIF) is certain that a deal on Saudi Aramco's purchase of a stake in Russian oil equipment manufacturer Novomet will be closed as all sides confirm their plans, RDIF CEO Kirill Dmitriev said in an interview in the run-up to the St. Petersburg International Economic Forum (SPIEF).

    "Certainly, we already have absolutely concrete agreements with Novomet shareholders, we also have agreements with Rosnano as one of Novomet shareholders. The deal with the Saudi partners therefore will be closed, we have all confirmations in this regard," Dmitriev said.

    In April, Saudi Energy Minister Khalid Falih told Sputnik in an interview that Saudi Aramco hoped to close the deal soon and planned to discuss the issue at SPIEF.

    READ MORE:  Russian Direct Investment Fund, Baring Vostok Mull Joint Project — RDIF CEO

    A 49.9-percent stake in Novomet is owned by the company's management, Rosnano has 30.76 percent, minority stakes belong to private equity funds Baring Vostok and Russia Partners.

    RDIF, the Saudi Public Investment Fund and Saudi Aramco are holding talks on the Saudi oil company’s purchase of the Rosnano stake.

    SPIEF is an annual Russian business event held in St. Petersburg since 1997. This year the forum will take place from June 6–8 at the ExpoForum Convention and Exhibition Centre.

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    SPIEF, Russian Direct Investment Fund (RDIF), Russia, Saudi Arabia
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