One-Page Deal Sheet
Weatherford to Sell Off Pipeline, Specialty Service Biz in Deal with Baker Hughes
Baker Hughes Company Weatherford International Ltd.
Announced Date
March 24,2014
Transaction Type
Asset
Location
Country
United States
Transaction Details: Subscribe to see
Weatherford International Ltd. and Baker Hughes Incorporated have signed an agreement for the sale of Weatherford's pipeline and specialty services business to a subsidiary of Baker Hughes for a total consideration of $250 million, including $241 million in cash and $9 million in retained working capital.
The sale is part of Weatherford's previously announced plan to divest its non-core businesses.
Bernard J. Duroc-Danner, Chairman, President and Chief Executive Officer of Weatherford, commented: "This sale is an important first step towards Weatherford's refocus on its core businesses and…
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| Oct-16-2014 |
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