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Thursday, October 17, 2019 5:47 GMT
Saudi Arabian Oil Company, globally known as Saudi Aramco, has signed an agreement with the Russian Direct Investment Fund (RDIF) and the Saudi Public Investment Fund (PIF) to acquire a 30.7% stake in Russian services company Novomet from Rosnano, according to RDIF’s recent statement. Novomet is considered a major producer of oil-submersible equipment in Russia and globally. The deal was signed in the presence of Russian President Vladimir Putin and King Salman bin Abdulaziz. “The consortium...More