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Schlumberger (SLB +1.3%) and Cameron International (CAM +3.4%) say they will form a JV to make...

Schlumberger (SLB +1.3%) and Cameron International (CAM +3.4%) say they will form a JV to make products, systems and services for the subsea oil and gas market. CAM, which will manage the JV, will contribute its existing subsea business and receive $600M from SLB. SLB will contribute its Framo, surveillance, flow assurance and power and controls businesses.
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