Russian antitrust allows Rosneft to buy oilfield servicing firm

MOSCOW, Dec 29 (PRIME) -- Russia’s Federal Antimonopoly Service has approved a request filed by oil major Rosneft to buy 100% of voting shares in oilfield services company Targin from multi-industry holding AFK Sistema, the service said in a statement on Thursday.

On Monday, Rosneft and Sistema said that the oil major will buy Targin from the multi-industry holding for 4.1 billion rubles, but the value of the deal may be revised after results of the company’s due diligence.

Targin focuses on drilling, repairs of well, designing, production and modernization of oilfield equipment, as well as transport and logistics services.

(60.6669 rubles – U.S. $1)

End