GE to divest Baker Hughes

GE says it plans to fully separate its 62.5% interest in BHGE over the next two to three years.

John Flannery, chairman and CEO of GE, said: “Today marks an important milestone in GE’s history. We are aggressively driving forward as an aviation, power, and renewable energy company – three highly complementary businesses poised for future growth. We will continue to improve our operations and balance sheet as we make GE simpler and stronger.”

Source: Offshore Magazine