In Outcast Russia, Schlumberger Buys Interest In Driller For $1.7 Billion

摘要

Less than a week after Schlumberger (NYSE: SLB) said it would look to gain market share as its top rivals combine, the company announced Jan. 20 it would acquire a minority interest in Eurasia Drilling Co. (EDC) for $1.7 billion. Schlumberger will acquire a 45.65% interest for $22 per share with a call option allowing the company, at its election, to purchase the remaining shares in Eurasia Drilling (LONDON: EDCL.L) during a two-year period commencing three years from the closing of the transaction. In a related transaction, Eurasia will be taken private and delisted.