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Baker Hughes A GE Co (BHGE.N)

BHGE.N on New York Stock Exchange

31.78USD
19 Jul 2018
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$-0.77 (-2.37%)
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Latest Key Developments (Source: Significant Developments)

First Reserve Announces Agreement To Acquire Dresser Natural Gas Solutions From Baker Hughes
Wednesday, 18 Jul 2018 

July 18 (Reuters) - Baker Hughes A GE Co ::FIRST RESERVE ANNOUNCES AGREEMENT TO ACQUIRE DRESSER NATURAL GAS SOLUTIONS FROM BAKER HUGHES, A GE COMPANY.FIRST RESERVE SAYS BUSINESS OPERATIONS AND RELATED CLIENTS OF TALAMONA, DRESSER ITALIA S.R.L. WILL NOT BE INCLUDED IN SALE.FIRST RESERVE SAYS TRANSACTION TERMS WERE NOT DISCLOSED.  Full Article

Baker Hughes To Sell Natural Gas Solutions Business
Wednesday, 18 Jul 2018 

July 18 (Reuters) - Baker Hughes A GE Co ::BAKER HUGHES, A GE COMPANY REACHES AGREEMENT TO SELL NATURAL GAS SOLUTIONS BUSINESS.BAKER HUGHES A GE CO - AGREEMENT TO SELL ITS NATURAL GAS SOLUTIONS (NGS) BUSINESS TO TWO SEPARATE ENTITIES FOR A COMBINED VALUE OF $375 MILLION.BAKER HUGHES A GE CO - AGREED TO SELL NGS PRODUCT LINE TO FIRST RESERVE.BAKER HUGHES A GE CO - TRANSACTION WITH FIRST RESERVE INCLUDES TRANSFER OF APPROXIMATELY 450 EMPLOYEES LOCATED IN EIGHT COUNTRIES.BAKER HUGHES A GE CO - AGREED TO SELL TALAMONA BRANCH OF ITS NGS PRODUCT LINE TO PIETRO FIORENTINI S.P.A..BAKER HUGHES A GE CO - PIETRO FIORENTINI S.P.A. DEAL INCLUDES TRANSFER OF ABOUT 40 EMPLOYEES AND MANUFACTURING SITE IN TALAMONA, ITALY.BAKER HUGHES A GE CO - FINANCIAL TERMS OF INDIVIDUAL AGREEMENTS WERE NOT DISCLOSED.  Full Article

GE Entered Credit Facility At Initial Aggregate Principal Commitment Of $19.8 Bln
Tuesday, 26 Jun 2018 

June 26 (Reuters) - General Electric Co ::GE - ON JUNE 22, GE ENTERED INTO UNSECURED CREDIT FACILITY WITH 6 BANKING ORGANIZATIONS AT INITIAL AGGREGATE PRINCIPAL COMMITMENT OF $19.8 BILLION.GENERAL ELECTRIC CO - ENTERED INTO UNSECURED CREDIT FACILITY TO INCREASE TOTAL EFFECTIVE AMOUNT AVAILABLE FROM ABOUT $37.5 BILLION TO ABOUT $40 BILLION.GE - ENTERED INTO UNSECURED CREDIT FACILITY TO EXTEND DURATION OF UNSECURED CREDIT FACILITIES TO ALIGN WITH EXECUTION TIMELINE FOR NEW STRATEGIC PLAN.GE SAYS UNSECURED CREDIT FACILITY MATURES ON DECEMBER 31, 2020 - SEC FILING.GE - UNSECURED CREDIT FACILITIES ENTERED INTO ON JAN 15, 2018 WERE TERMINATED UPON EXECUTION OF UNSECURED CREDIT FACILITY DATED JUNE 22.  Full Article

GE Says GE Healthcare To Become Standalone Co, To Fully Separate Baker Hughes, A GE Co
Tuesday, 26 Jun 2018 

June 26 (Reuters) - General Electric Co ::PLANS TO FULLY SEPARATE BAKER HUGHES, A GE COMPANY.SAYS HEALTHCARE TO BECOME STANDALONE COMPANY.SAYS TO FOCUS ON AVIATION, POWER AND RENEWABLE ENERGY.SAYS EXPECTS TO MONETIZE 20 PERCENT AND DISTRIBUTE REMAINING 80 PERCENT OF GE HEALTHCARE TO SHAREHOLDERS TAX-FREE.SAYS PLANS TO MAINTAIN CURRENT QUARTERLY DIVIDEND THROUGH COMPLETION OF HEALTHCARE SEPARATION.SAYS LARRY CULP TO SUCCEED JACK BRENNAN AS LEAD DIRECTOR.SAYS PLANS TO REDUCE INDUSTRIAL NET DEBT BY ABOUT $25 BILLION BY 2020, MAINTAIN MORE THAN $15 BILLION OF CASH ON THE BALANCE SHEET..SAYS KIERAN MURPHY, PRESIDENT AND CEO OF GE HEALTHCARE, WILL CONTINUE TO LEAD GE HEALTHCARE AS A STANDALONE COMPANY.SAYS "EXPECTS TO ADJUST GE DIVIDEND WITH A TARGET DIVIDEND POLICY IN LINE WITH INDUSTRIAL PEERS".SAYS STRUCTURE, SEQUENCE, TIMING OF TRANSACTIONS WILL BE DETERMINED AT LATER DATE, BUT EXPECTED TO BE COMPLETED OVER NEXT 12 TO 18 MONTHS.SAYS "CONTINUES TO WORK TO MAKE GE CAPITAL SMALLER AND MORE FOCUSED ON SUPPORTING ITS CORE INDUSTRIAL BUSINESSES".SAYS PLANS TO FULLY SEPARATE ITS 62.5% INTEREST IN BHGE IN AN ORDERLY MANNER OVER THE NEXT TWO TO THREE YEARS.SAYS INTENDS TO MATERIALLY SHRINK BALANCE SHEET OF GE CAPITAL TARGETING SALES OF $25 BILLION IN ENERGY AND INDUSTRIAL FINANCE ASSETS BY 2020.SAYS ASSUMING AN APPROXIMATELY $3 BILLION CAPITAL CONTRIBUTION TO GE CAPITAL IN 2019.SAYS ACTIVELY EXPLORING OPTIONS TO REDUCE ITS INSURANCE EXPOSURE IN GE CAPITAL.  Full Article

GE To Spin Off Health-Care Business In Latest Revamp - WSJ
Tuesday, 26 Jun 2018 

June 26 (Reuters) - :GE TO SPIN OFF HEALTH-CARE BUSINESS IN LATEST REVAMP - WSJ, CITING SOURCES.GE PLANS TO SPIN OFF ITS HEALTH-CARE BUSINESS AND UNLOAD ITS OWNERSHIP IN OIL-SERVICES COMPANY BAKER HUGHES - WSJ, CITING SOURCES.GE WILL FOCUS ON POWER AND AVIATION DIVISIONS; ANOTHER DIVIDEND CUT IS LIKELY - WSJ.  Full Article

GE's Baker Hughes lays off workers in Schertz, Texas
Friday, 22 Jun 2018 

By Liz Hampton:The layoffs occurred on June 1, according to the filing.The company will close its gas processing facility in Schertz by the end of the year, a company spokeswoman said in a statement."The decision comes after a careful review of how best to adjust our operations to best align where future business and opportunity exists," the spokeswoman said..  Full Article

Snam Enters Into Agreement With Baker Hughes For Four Liquefaction Plants
Monday, 28 May 2018 

May 28 (Reuters) - Snam ::ENTERS INTO AGREEMENT WITH BAKER HUGHES FOR DEVELOPMENT OF MICRO-LIQUEFACTION PLANTS FOR SUSTAINABLE MOBILITY.WILL DETERMINE BY END OF 2018 THE FEASIBILITY OF THE FUTURE DEVELOPMENT OF FOUR SMALL-SCALE LIQUEFACTION PLANTS.POTENTIAL FUTURE INVESTMENT FOR THE FOUR PLANTS IS IN THE ORDER OF 50 TO 80 MILLION EUROS IN THE COMING YEARS.  Full Article

Baker Hughes A GE Co Board Elects Lorenzo Simonelli As Chairman
Tuesday, 15 May 2018 

May 14 (Reuters) - Baker Hughes A GE Co ::SAYS ON MAY 11, 2018, BOARD OF DIRECTORS ELECTED LORENZO SIMONELLI AS CHAIRMAN OF BOARD - SEC FILING.  Full Article

Baker Hughes, A GE Company Declares Quarterly Dividend
Friday, 11 May 2018 

May 11 (Reuters) - Baker Hughes A GE Co ::BAKER HUGHES, A GE COMPANY DECLARES QUARTERLY DIVIDEND.BAKER HUGHES A GE CO - BHGE BOARD OF DIRECTORS DECLARED A CASH DIVIDEND OF $.18 PER SHARE OF CLASS A COMMON STOCK.BAKER HUGHES A GE CO - DIVIDEND WILL BE FUNDED BY DISTRIBUTION OF $.18 PER UNIT FROM BAKER HUGHES A GE COMPANY LLC TO ALL OF ITS MEMBERS, INCLUDING GE.  Full Article

W&T Offshore & Baker Hughes, A GE Company Announce Agreement
Monday, 30 Apr 2018 

April 30 (Reuters) - Baker Hughes A GE Co ::W&T OFFSHORE AND BAKER HUGHES, A GE COMPANY ANNOUNCE STRATEGIC AGREEMENT FOR JOINT EXPLORATION & DEVELOPMENT PROGRAM OF 14 DRILLING PROJECTS IN THE GULF OF MEXICO.BAKER HUGHES A GE CO - AS PART OF DEAL, CO WILL PROVIDE DRILLING AND EVALUATION, COMPLETIONS AND WELL INTERVENTION, PRESSURE PUMPING SERVICES.  Full Article

BRIEF-Baker Hughes A GE Co CEO's 2017 Compensation Was $12.6 Mln

* BAKER HUGHES A GE CO CEO LORENZO SIMONELLI'S 2017 COMPENSATION WAS $12.6 MILLION - SEC FILING