Gazprombank became a new shareholder of NewTech Services
Proceeds from the transaction will be invested in boosting the development of NewTech Services, in particular into acquisition of modern oilfield equipment or arrangement of its production on the basis of most advanced domestic and foreign technologies. The investment will significantly expand the range of oilfield services offered by the company.
The Parties are targeting the oilfield services growth potential in Russia and CIS. NewTech Services is ready to offer the most up-to-date oilfield technologies to meet the growing demand for new oilfields developments.
"Consolidation of experience and expertise of the NewTech Services team capable of bringing in modern technologies for the development of the company amplified by the financial capacities of Gazprombank will enable us to get significant synergistic effect from our partnership," - said Andrei Kormilitsin, Vice President - Head of Direct Investments Department of Gazprombank.
"This deal will give a new impetus to the ongoing development of the company's business and enable it in the nearest future to become one of the leading players in the market of high-tech oilfield services in Russia and the CIS" - assured Mark Sadykhov, President of NewTech Services.
Gazprombank (Open Joint-Stock Company) is one of the three major banks of Russia in terms of key performance indicators, and one of the three major banks of the Central and Eastern Europe in terms of its equity.
Gazprombank has an investment grade rating by international rating agency Moody's Investor's Service - rating of long-term deposits in foreign currency is at Baa3, stable outlook, the debt rating - at Baa3. Long-term counterparty ratings on debt and borrowings of the Bank assigned by Standard & Poor's at the level of BBB-, with a stable outlook.
Extensive regional network of Gazprombank consists of 43 branches and three subsidiary Russian banks.
Gazprombank also has a stake in three foreign banks - JSC "Belgazprombank" (Belarus), "Areximbank" (Armenia) and Gazprombank (Switzerland) in Zurich (Switzerland).