EU approves Schlumberger-Cameron merger

Oilfield services giant Schlumberger has been given the green light to takeover an equipment provider in the sector. The EU Commission has approved the merger with Cameron which is worth […]

Register now!

By Jacqueline Echevarria

Oilfield services giant Schlumberger has been given the green light to takeover an equipment provider in the sector.

The EU Commission has approved the merger with Cameron which is worth $14.8 billion (£9.81bn).

The transaction was previously granted permission by investors of both companies, the US Department of Justice, Canada, Brazil, Russia and Mexico.

Schlumberger is now waiting for final approval from the Ministry of Commerce in China.

The merger is expected to be completed in the first quarter of 2016.