1. In 1923 Louis Blaustein and his son Jacob Blaustein sold a half interest in their American Oil Company to Pan American in exchange for a guaranteed supply of oil .
2. In 1923 , Jacob Blaustein and his son , Louis Blaustein , sold half a participation in their American Oil Company to Pan American in exchange for a guaranteed supply of oil .

Are these two sentences paraphrases of each other?
no