Schlumberger retains Deutsche Bank to progress BC division sale

As reported by Continuity Central in mid-October (click here for story) Schlumberger is seeking to sell its business continuity division. The Financial Times has now reported that the company has retained Deutsche Bank to assist with finding a buyer for the division, which the FT states is worth more than $200m.

The FT claims that SunGard is one of several companies considering a bid along with Hewlett-Packard and Bridgepoint Capital, a private equity firm.

Any bid for Schlumberger made by SunGard would inevitably be placed before the competition authorities in the UK and US but this would not necessarily preclude SunGard from making an offer.

Read the FT story.

•Date: 2nd December 2003 •Region: UK / N.America •Type: Article •Topic: BC markets
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