Baker Hughes Inc. completed the acquisition of Weatherford’s pipeline and specialty services business for US$250 million.
The total consideration includes $241 million in cash and $9 million in retained working capital.
The purchase gives Baker Hughes a range of expanded pre-commissioning, deepwater and in-line inspection services, in addition to more than 700 process and pipeline specialists to provide solutions for oil and gas asset owners and operators, upstream, midstream and downstream.
The sale is part of Weatherford’s previously announced plan to divest its non-core businesses.
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