GE Oil & Gas and Baker Hughes Complete Merger

Release time:2017-07-18

GE Oil & Gas has completed the previously announced merger with Baker Hughes. Under the terms of the transaction agreement, which was previously announced on October 31, 2016, the transaction resulted in a partnership structure, pursuant to which Baker Hughes was converted to a partnership and GE contributed its Oil & Gas business into that partnership. GE has a 62.5% interest in this partnership and legacy Baker Hughes shareholders have a 37.5% interest through their ownership.