Schlumberger to sell SchlumbergerSema businesses
  by: OilOnline
  Tuesday, September 30, 2003

Schlumberger Ltd. has signed a binding agreement with Atos Origin to sell the majority of SchlumbergerSema businesses. The transaction proceeds would amount to about $1.5 billion in cash and a fixed number of 19.3 million of Atos Origin common shares that represent approximately 29 percent of the common shares outstanding of Atos Origin. Subsequent to closing, Schlumberger expects to reduce its ownership in Atos Origin to 19 percent. Closing is expected in January 2004 and is subject to Atos shareholders and customary regulatory approvals. Schlumberger plans to strengthen its focus on oilfield services and exploration and production process and information solutions. Schlumberger will retain a number of specific SchlumbergerSema businesses.

New & Expanding Business sponsored by Cameron