GE: divorce with Baker Hughes taking shape
(CercleFinance.com) - After announcing earlier their intention to pursue an "orderly separation," this year, GE and the oil-services unit Baker Hughes on Tuesday entered into a series of long-term agreements that amend their commercial and technological relations.
The agreements today announced that the plan is accelerating in such a way that "mutually benefits" both companies and their shareholders, the companies said.
Baker Hughes and GE said they agreed to cooperate on a proposed sale by GE of part of its stake, with the aim at maintaining GE's stake in Baker Hughes above 50%.
Alongside this, Baker Hughes has also entered into a long-term supply agreement with GE for heavy-duty gas turbine technology at the current pricing levels, while also having access to GE's digital software and technologies.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The agreements today announced that the plan is accelerating in such a way that "mutually benefits" both companies and their shareholders, the companies said.
Baker Hughes and GE said they agreed to cooperate on a proposed sale by GE of part of its stake, with the aim at maintaining GE's stake in Baker Hughes above 50%.
Alongside this, Baker Hughes has also entered into a long-term supply agreement with GE for heavy-duty gas turbine technology at the current pricing levels, while also having access to GE's digital software and technologies.
Copyright (c) 2018 CercleFinance.com. All rights reserved.