Schlumberger Limited announced the completion of the sale sale of its Wilson distribution business to National Oilwell Varco (NOV).
Schlumberger committed to divest the remaining portion of its distribution business by supporting NOV’s proposed acquisition of all outstanding share of CE Franklin Ltd. For CAD!12.75 in cash per share. Schlumberger owns about 56% of CE Franklin’s outstanding common share, or 9,728,582.