# Russia approves Saudi investors' 20.5% stake purchase in Novomet

Russia's Commission on Foreign Investments approved Saudi investors acquiring a 20.5% stake in Novomet, a Russian artificial lift equipment maker, for about 5 billion rubles (around $78 million); RDIF will take a 10.2% stake.

- Type: Acquisition
- Announced: 2019-11-17
- Where: Russia
- Value: $78.0M (5.00B RUB)
- Status: announced
- Products: artificial lift equipment, pumping systems
- Sectors: [Pumps and Valves](https://endata.com/sectors/pumps-valves.md)

## Companies

- [Novomet](https://endata.com/companies/691.md) (target)
- [Russian Direct Investment Fund](https://endata.com/companies/5800.md) (investor)

## Sources

- [eurasianlinks.blog](https://eurasianlinks.blog/2019/11/17/212/), 2019-11-17: "The Commission on Foreign Investments Monitoring of the Russian Government has granted permission to Saudi investors to acquire a 20.5% stake in Novomet."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.