Riyadh – Mubasher: Saudi Arabian Oil Co, known globally as Saudi Aramco, and the Russian Direct Investment Fund (RDIF) are considering purchasing a 30.76% stake in the US-based Novomet, informed sources have said.
RDIF, Aramco, and Saudi Public Investment Fund (PIF) are in negotiations with Russia's state-owned technology investment group Rusnano to buy its stake in Novomet, Russia Today (RT) reported, citing the source as saying.
By the end of May, Novomet’s manager, Maksim Perelman, the PIF, RDIF, and Saudi state-run Aramco have started talks over acquiring a stake in Novomet.
In July 2016, Rusnano offered its 30.76% stake in Novomet for sale, with a minimum selling price at $113 million.
