Baker Hughes, GE gain EU clearance

Baker Hughes and GE have gained clearance from the European Commission (EU) for the duo’s proposed merger.

“The companies remain confident in the value that the combined company will deliver to its customers, employees, shareholders and to the oil and gas industry. Baker Hughes and GE continue to work constructively with regulators and expect to close the transaction in mid-2017,” the two companies said.

The two teamed up in October 2016 to form the “new” Baker Hughes, which will be led by current GE Oil & Gas CEO Lorenzo Simonelli and have dual headquarters in Houston and London.

The deal will combine GE’s oil and gas business and Baker Hughes, in what the two companies say will be a leading equipment, technology and services provider with US$32 billion of combined revenue and operations in more than 120 countries.

Read more:

Baker Hughes, GE merger progresses

GE, Baker Hughes to merge

Current News

Norway Identifies Four More Sites for Offshore Wind Development

Norway Identifies Four More Si

Prio Aims to Double Oil Output in 2026

Prio Aims to Double Oil Output

ABS: Floating CO₂ Injection Facilities Report

ABS: Floating CO₂ Injection Fa

Iran’s Top Security Body to Weigh In on Strait of Hormuz Closure

Iran’s Top Security Body to We

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine