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CCI approves GE-Baker Hughes' oil-gas business merger

IANS  |  New Delhi 

The Competition Commission of (CCI) on Wednesday said that it has approved the proposed of GE's and gas business and Baker Hughes' field services business.

In a tweet, the CCI said: "@CCI_India approves of and gas business of GE and field services business of Baker Hughes Inc."

Last year, GE and Baker Hughes Incorporated (BHI) entered into a transaction agreement and plan of (transaction agreement).

The agreement envisages GE to acquire 62.5 per cent of the voting and economic rights of a newly-formed company that will comprise GE's and gas business and BHI's business.

The transaction is a composite combination under section 5 of the Competition Act.

--IANS

rv/vt

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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CCI approves GE-Baker Hughes' oil-gas business merger

The Competition Commission of India (CCI) on Wednesday said that it has approved the proposed merger of GE's oil and gas business and Baker Hughes' oil field services business.

The Competition Commission of (CCI) on Wednesday said that it has approved the proposed of GE's and gas business and Baker Hughes' field services business.

In a tweet, the CCI said: "@CCI_India approves of and gas business of GE and field services business of Baker Hughes Inc."

Last year, GE and Baker Hughes Incorporated (BHI) entered into a transaction agreement and plan of (transaction agreement).

The agreement envisages GE to acquire 62.5 per cent of the voting and economic rights of a newly-formed company that will comprise GE's and gas business and BHI's business.

The transaction is a composite combination under section 5 of the Competition Act.

--IANS

rv/vt

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

CCI approves GE-Baker Hughes' oil-gas business merger

The Competition Commission of (CCI) on Wednesday said that it has approved the proposed of GE's and gas business and Baker Hughes' field services business.

In a tweet, the CCI said: "@CCI_India approves of and gas business of GE and field services business of Baker Hughes Inc."

Last year, GE and Baker Hughes Incorporated (BHI) entered into a transaction agreement and plan of (transaction agreement).

The agreement envisages GE to acquire 62.5 per cent of the voting and economic rights of a newly-formed company that will comprise GE's and gas business and BHI's business.

The transaction is a composite combination under section 5 of the Competition Act.

--IANS

rv/vt

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22