Price tag of deal includes option for Schlumberger to acquire remaining shares between two and five years later
January 21, 2015 at 05:46 AM
1 minute read
The original version of this story was published on Legalweek
Allen & Overy (A&O) and Skadden Arps Slate Meagher & Flom have taken the lead roles on a $1.7bn (£1.12bn) deal for oil and gas technology titan Schlumberger to acquire a 46% interest in Russia’s Eurasia Drilling Company (EDC).
As part of the agreement, EDC’s principal shareholders will take the company private, delisting the company from the London Stock Exchange before Schlumberger acquires its minority equity interest.
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