Russian Investment Banks, Pension Funds Negotiating Investment in Aramco IPO - RDIF

Sputnik, 07.11.2019

MOSCOW, November 7 (Sputnik) - Russian investment banks and pension funds are negotiating the volume and ways of investing in an IPO of Saudi state oil company Saudi Aramco, while investments are unlikely to be massive, Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev told reporters Thursday.

"We believe that Saudi Aramco is a very attractive, stable, interesting company. It is of interest to a number of Russian investors, including Russian investment banks and pension funds. Talks are ongoing on how much and how they could invest," Dmitriev said on the sidelines of an investment forum.

"At the same time, we do not expect massive investments from Russia, because Russia already has a rather serious presence of the oil and gas sector in the economy, we need to diversify the economy," he said.