GE Announces Plan To Offload Its Stake In Baker Hughes

first_imgGE made the announcement on Tuesday, June 26, for the companies plan to unload its 62.5 percent  stake in the Baker Hughes business over the next two to three years. GE owned 62.5% of the company with the rest owned by Baker Hughes’ shareholders.  According to a report from the company, GE’s stake in Baker Hughes was at about $23 billion. Facebook0TwitterEmailPrintFriendly分享General Electric announced its plan to move out of the oil services businesses, by offloading its stake in oil services giant Baker Hughes. On October 31, 2016, GE announced that it has agreed to combine GE’s oil and gas business and Baker Hughes to create a “world-leading oilfield technology provider”.center_img The decision to get out of the oilfield services business represents an about-face from less than two years ago, when GE announced the combination of its oil business with Baker Hughes in 2016. Calls for comment from Baker Hughes on the impact this announcement will have to the locations on the Kenai Peninsula and in Alaska were not returned by deadline.last_img

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