Bauer ends deep drilling technology joint venture with schlumberger

Ends deep drilling technology joint venture with schlumberger.two companies agreed to discontinue their joint business due to persistently high overcapacity in oil drilling business heightened by low price of oil.due to termination of joint venture, bauer group has already taken over all shares in both companies.implementation of all further required steps is planned by end of august 2020 at latest.parties have agreed not to disclose further details.no significant overall effects on group results due to full consolidation.
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