China approves Schlumberger, Cameron merger

Offshore staff

HOUSTON – The Chinese Ministry of Commerce (MOFCOM) has cleared the proposed merger of Schlumberger Ltd. and Cameron International Corp. without any conditions.

MOFCOM approval represents the last major closing condition to the proposed merger.  As a result, the parties intend to close their transaction on April 1, 2016. 

The closing of the proposed merger remains subject to the satisfaction or waiver of the remaining closing conditions contained in the merger agreement. Until that time, the companies will continue to operate as separate and independent entities and continue to serve their respective customers.

The merger was approved by the European Commission in February and the US Department of Justice in November 2015.

03/28/2016

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