Schlumberger to Buy Minority Share in Eurasia Drilling for $1.7b
2015-01-20 07:17:28.526 GMT
By Cormac Mullen
(Bloomberg) -- Schlumberger says will acquire minority
equity ownership interest of 45.65% in EDC for $22/share, in
connection with agreement, principal shareholders of EDC will
take company private.
* Says total cost of minority interest, including call option,
non-competition agreements is ~$1.7b, call option allows
Schlumberger to purchase remainder of EDC
* Says transaction expected to close during 1Q
* Says agreement extends successful long-term relationship
enjoyed by the two companies within strategic alliance
signed in 2011
* Link
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To contact the reporter on this story:
Cormac Mullen in Dublin at +353-1-523-9526 or
cmullen9@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
2015-01-20 07:17:28.526 GMT
By Cormac Mullen
(Bloomberg) -- Schlumberger says will acquire minority
equity ownership interest of 45.65% in EDC for $22/share, in
connection with agreement, principal shareholders of EDC will
take company private.
* Says total cost of minority interest, including call option,
non-competition agreements is ~$1.7b, call option allows
Schlumberger to purchase remainder of EDC
* Says transaction expected to close during 1Q
* Says agreement extends successful long-term relationship
enjoyed by the two companies within strategic alliance
signed in 2011
* Link
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Cormac Mullen in Dublin at +353-1-523-9526 or
cmullen9@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net