Weatherford International Sells Russian, Venezuelan Assets For $500 Million
Weatherford International PLC (NYSE:WFT) took another major step in deleveraging with the $500 million sale of its Russian and Venezuelan assets to Rosneft' NK OAO (MCX:ROSN) (OTCMKTS:RNFTF), pushing its stock up 3% in trading today (currently $22.57). The deal is expected to close sometime in the third quarter this year, and it is another sign that the company is serious about divesting . . .
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