Schlumberger Completes Sale Of Wilson International Inc.
Schlumberger Limited (NYSE:SLB) announced today that it has completed the sale of its Wilson distribution business to National Oilwell Varco, Inc. (NYSE:NOV).
Additionally, Schlumberger has committed to divest the remaining portion of its distribution business by agreeing to support NOV’s previously announced proposed acquisition of all outstanding shares of CE Franklin Ltd. (NASDAQ: CFK; TSX: CFT) (“CE Franklin”) for CAD$12.75 in cash per share. Schlumberger owns 9,729,582 common shares of CE Franklin, or approximately 56% of CE Franklin’s outstanding common shares.
Schlumberger is the world’s leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing more than 113,000 people representing over 140 nationalities and working in approximately 85 countries, Schlumberger provides the industry’s widest range of products and services from exploration through production.Schlumberger Limited has principal offices in Paris, Houston and The Hague, and reported revenues of $39.54 billion in 2011. For more information, visit www.slb.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV