Baker Hughes Sells Natural Gas Solutions Business to Two Firms -- Deal Digest
19 July 2018 - 12:23AM
Dow Jones News
By Nishant Mohan
ACQUIRERS: Private-equity firm First Reserve and Pietro
Fiorentini SpA.
TARGET: Natural Gas Solutions business of Baker Hughes, a GE
company. The Natural Gas Solutions business produces gas meters,
chemical injection pumps and other products.
DETAILS: Pietro Fiorentini will buy the Talamona branch of its
Natural Gas Solutions product line. The branch includes about 40
employees and a manufacturing plant in Italy. First Reserve is
buying the piece of the business focused on energy, which will
include the transfer of about 450 employees located in eight
countries in the deal.
PRICE: $375 million combined. Terms of the individual agreements
weren't disclosed.
STATUS: Under agreement.
CLOSING: Second half of 2018.
STOCK: Shares are down 1.2% to $32.24 in morning trading.
Write to Nishant Mohan at nishant.mohan@wsj.com
(END) Dow Jones Newswires
July 18, 2018 10:08 ET (14:08 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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