8-K/AOther Events

SLB LIMITED/NV 8-K/A Report (Mar 15, 2004)

Filed March 15, 2004For Securities:SLB

Summary

SLB LIMITED/NV (SLB) filed an amendment to its Current Report on Form 8-K on March 15, 2004, to provide updated pro forma financial information related to the sale of its SchlumbergerSema business. The company announced the completion of this sale on January 29, 2004, to Atos Origin SA for a combination of cash and stock. This filing aims to offer a clearer financial picture post-divestiture, reflecting the impact on the company's balance sheet and operations as if the transaction had occurred earlier. Key financial adjustments are presented, including the allocation of proceeds from the sale towards short-term investments and the repayment of long-term debt. The pro forma statements provide investors with a view of SLB's financial position and results of operations, adjusted for the disposition of the SchlumbergerSema segment. Investors should note that this pro forma information is presented for illustrative purposes and may not necessarily reflect future financial performance.

Key Highlights

  • 1SLB completed the sale of its SchlumbergerSema business to Atos Origin SA on January 29, 2004.
  • 2The transaction consideration included €443 million in cash and 19.3 million shares of Atos capital stock.
  • 3SLB has retained strategic IT services for the oil and gas industry and operations connected to upstream oil and gas business.
  • 4The company has begun divesting specific retained SchlumbergerSema businesses, including Business Continuity, Infodata, and Telecom Software Products.
  • 5SLB sold 9.6 million Atos Origin shares on February 2, 2004, retaining approximately 14.5% of Atos Origin's share capital.
  • 6Proceeds from the sale of SchlumbergerSema and Atos Origin shares, net of expenses, aggregate approximately $1.0 billion, with $0.6 billion invested in short-term investments and $0.4 billion used to pay down the current portion of long-term debt.
  • 7The filing includes unaudited pro forma financial statements (Balance Sheet as of December 31, 2003, and Statement of Operations for the year ended December 31, 2003) reflecting the impact of the sale.

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