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.



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