http://signaloil.wpengine.com/wp-content/uploads/2015/10/Signal-Oil-logo-red-300x32.png 0 0 RSS FEED http://signaloil.wpengine.com/wp-content/uploads/2015/10/Signal-Oil-logo-red-300x32.png RSS FEED2018-07-19 03:50:422018-07-19 03:50:42Baker Hughes To Sell Natural Gas Solutions Business For $375 Million
Baker Hughes To Sell Natural Gas Solutions Business For $375 Million
Baker Hughes Inc. (NYSE: BHGE) has found the “right” buyers and price to sell its natural gas solutions (NGS) business, the energy services firm of General Electric Co. (NYSE: GE) said July 18.
Baker Hughes agreed to sell its NGS product line to private-equity firm First Reserve and the product line’s Talamona branch in Italy to Pietro Fiorentini SpA for a combined value of $375 million. Financial terms of the individual agreements were not disclosed.
The divestitures come roughly a month after GE announced plans to divest its stake from Baker Hughes as the Boston-based conglomerate chooses to narrow its focus on its aviation, power and renewable energy businesses. The separation is expected to occur in an “orderly manner” over the next two to three years.