Eurasia Drilling: Russia Regulatory Check Delays Schlumberger Deal
February 20 2015 - 9:27AM
Dow Jones News
By Alexander Kolyandr
MOSCOW--Russia's largest onshore drilling company Eurasia
Drilling Co. said on Friday that its sale of a stake to the world's
biggest oil-services company by market value Schlumberger Ltd. is
delayed, pending approval from Russia's Federal Anti-Monopoly
Service.
As the result, EDC said the deal "will not occur on the expected
dates previously announced by the company."
The company said it continues to cooperate with Russian's
competition watchdog as it studies the transaction.
Schlumberger said Jan. 20 it planned to buy a 46% stake in EDC
for about $1.7 billion, with an option to fully acquire the
company.
EDC provided no further details, and the FAS wasn't available
for an immediate comment.
Write to Alexander Kolyandr at alexander.kolyandr@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Schlumberger (NYSE:SLB)
Historical Stock Chart
From Mar 2024 to Apr 2024
Schlumberger (NYSE:SLB)
Historical Stock Chart
From Apr 2023 to Apr 2024