Schlumberger to sell SchlumbergerSema businesses; Strengthens focus on oilfield services and exploration & production process and information solutions.

0 Comments | M2 Presswire, September, 2003

M2 PRESSWIRE-22 September 2003-SCHLUMBERGER: Schlumberger to sell SchlumbergerSema businesses; Strengthens focus on oilfield services and exploration & production process and information solutions(C)1994-2003 M2 COMMUNICATIONS LTD RDATE:09222003 NEW YORK/PARIS: Schlumberger Limited (NYSE:SLB) announced today the signing of a binding agreement with Atos Origin for the sale of the majority of SchlumbergerSema businesses.

The transaction proceeds would amount to approximately $1.5 billion consisting of euro400 million in cash and a fixed number of 19.3 million of Atos Origin common shares that represent approximately 29 of the common shares outstanding of Atos Origin. Subsequent to closing, Schlumberger expects to reduce its ownership in Atos Origin to 19...