CEO says RDIF, partners may bid for larger minority stake in EDC

MOSCOW, Feb 6 (PRIME) -- The Russian Direct Investment Fund (RDIF) and its Middle Eastern partners are ready to raise the stake they want to buy in domestic oilfield servicing Eurasia Drilling Company (EDC), but are not interested in control, CEO Kirill Dmitriev told reporters on Wednesday.

“We are ready to raise our stake in the company on behalf of both our UAE and the Saudi Arabian partners who are interested, but our bid is still for a minority shareholding, not a large one,” he said.

“We are ready to keep 16.1%. If the company is interested, then (the bid) may be raised to around 30%... We are ready to submit a new request.”

The EDC shareholders had approved the sale of a 51% stake to Schlumberger, but earlier in February the U.S. company recalled its bid due to difficulties with getting approval of the Federal Antimonopoly Service.

Dmitriev also said that the RDIF will discuss energy cooperation with the Saudi Arabian partners next week.

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