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Less Than a Year After Sealing Merger, GE to Ditch Stake in Baker Hughes
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General Electric (GE) has announced that it plans to divest its stake in Baker Hughes. This development comes a mere 11 months after the merger deal was closed (July 2017).
GE holds a 62.5% stake in Baker Hughes, which it will likely unload via a series of share sales instead of a buyout, according to analysts.
Shale Experts CEO Rons Dixon notes that it is likely that BJ Services (Baker Hughes' frac business) will launch an IPO as a result.
GE also announced plans to spin-off its healthcare division as part of this landmark reorganization, which it hopes will strengthen its balance sheet and reduce its heavy debt load.
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