Printer Friendly

DOW COMPLETES SALE OF ITS 50 PERCENT INTEREST IN DOWELL SCHLUMBERGER

 MIDLAND, Mich., Feb. 1 /PRNewswire/ -- The Dow Chemical Company (NYSE: DOW) today announced completion of the sale to Schlumberger of Dow's 50 percent interest in the Dowell Schlumberger group of companies. The transaction had been pending approval by certain governmental and regulatory authorities since being announced in December 1992.
 The purchase price was $675 million in cash and a warrant to purchase 7.5 million shares of Schlumberger stock with an exercise price of $59.95. The warrant is fully-vested, non-transferable and expires in 7-1/2 years.
 A pretax gain of approximately $450 million from the sale will be included in Dow's first quarter of 1993 results.
 -0- 2/1/93
 /CONTACT: Doug G. Draper of The Dow Chemical Company, 517-636-2876/
 (DOW)


CO: The Dow Chemical Company; Dowell Schlumberger ST: Michigan IN: CHM SU: TNM

ML -- DE005 -- 1173 02/01/93 08:58 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 1, 1993
Words:144
Previous Article:IT MELTS MATERIAL IN ITS PATH: ONE OF WORLD'S LARGEST LASER CUTTING SYSTEMS DEMONSTRATED
Next Article:MCN, TWO OTHERS TO CONVERT GOLF CARS TO NATURAL GAS
Topics:


Related Articles
DOW EARNINGS IMPACTED BY SPECIAL CHARGE, ACCOUNTING CHANGES
DOW'S EARNINGS HIGHER ON GAIN FROM DIVESTITURE
DOW ANNOUNCES EARNINGS OF 54 CENTS PER SHARE AFTER MARION MERRELL DOW SPECIAL CHARGE
DOW ANNOUNCES EARNINGS OF 54 CENTS PER SHARE AFTER MARION MERRELL DOW SPECIAL CHARGE
DOW ANNOUNCES QUARTERLY EARNINGS OF 50 CENTS PER SHARE
DOW CORNING CHARGE IMPACTS DOW CHEMICAL'S QUARTERLY EARNINGS
DOW ANNOUNCES HIGHER SALES, OPERATING INCOME
DOW'S EARNINGS MORE THAN DOUBLE IN THIRD QUARTER
DOW ANNOUNCES RECORD SALES, HIGHER EARNINGS
Dow AgroSciences Acquires Remaining Interest in RohMid from BASF.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters