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GE to Buy Cameron's Reciprocating Compression Business

General Electric Company Cameron International Corporation
AnnouncedJan 20, 2014
TypeAsset
Announced Date
January 20,2014
Transaction Type
Asset




Snapshot
Location
Country
United States


Transaction Details:  Subscribe to see

Cameron has entered into a definitive agreement under which it will sell its Reciprocating Compression business to GE for cash consideration of approximately $550 million, subject to closing adjustments. 

Cameron also announced that it intends to explore strategic alternatives for its Centrifugal Compression business to further enhance the Company's focus on its core businesses. The Company intends to use the net cash realized from the divestiture of the Reciprocating Compression business to partially fund its existing share repurchase program.

Jack Moore, Cameron Chairman, President and…

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