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Antimonopoly watchdog receives application from Halliburton to buy Russia's Novomet Group

January 10, 2017/ 07:11

Moscow. Russian Federal Antimonopoly Service received an application from US Halliburton on acquisition of 100% in Russian oilfield service and machine-building Novomet Group, press service of the regulator told TASS on Monday.

"I inform that FAS of Russia received the application from Halliburton Worldwide GmbH on acquisition of 100% in oilfield service and machine-building Novomet Group," the press service said.

The US corporation said at the turn of December 2016 that it applied in connection with an opportunity to acquire a stake in the Russian holding.

Manufacturing of oil production equipment is the core business of Novomet. Company’s management holds a controlling stake in the company, 30.76% belong to Rusnano, and minority interests are held by Baring Vostok and Russia Partners funds.

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