GE speeds up Baker Hughes sale

GE speeds up Baker Hughes sale

GE moved to scale its stake in Baker Hughes down to 50,4% but also signed new agreements for BHGE long-term collaboration on critical rotating equipment, including aero-derivative and heavy-duty gas turbine technology. This change of strategy reflects the need by GE to raise $4 billion cash by year end due to the deep financial crisis of the American giant, started in 2008.