Schlumberger purchases 45.65% of shares in EDC for $1.7 bln - Schlumberger
Edited by Rhod Mackenzie / 2015-01-20 11:24:32
The American oil service company Schlumberger purchases 45.65% of shares of Eurasia Drilling Company /EDC for $1.7 bln, Schlumberger reports.
It is reported that the agreement expands the long-term strategic cooperation between the two companies started in 2011.
In conformity with the agreement, Eurasia Drilling Company /EDC will announce of the delisting of the company’s secure papers. After the delisting Schlumberger via one or few affiliates will purchase 45.65% of EDC at $22/share. The total value of the package is about $1.7 bln.
