• The merging of the oil and gas sector between General Electric and Baker Hughes


             Oil companies Baker Hughes and General Electric announced yesterday the completion of the merging of the former with the oil and gas sector in the second, while the activities of the two companies will be merged in Russia after taking the approval of the authorities concerned there later.
    The European Committee, according to "German", has agreed earlier on the proposed deal between Baker Hughes and the oil and gas sector of the group, "General Electric", in accordance with the rules of full integration in the European Union.
    Baker Hughes' A shares and GEs oil and gas sector will be traded on the New York Stock Exchange under one symbol, BHG, as of July 5.
    At the same time, the Baker Hughes stock market continued trading on the New York Stocks until the end of trading yesterday, as the stock traded under the symbol "BHI". Baker Hughes will receive one share of the A-Class public shares at Baker Hughes, while GE's oil and gas shareholders will receive a non-recurring $ 17.5 per share, To be paid on July 6, 2017.
    Last October, General Electric announced that it had entered into an agreement to merge its oil and gas sector with Baker Hughes.
    The two companies said the agreement would be implemented through a partnership structure, with GE Oil and Gas and Baker Hughes providing their assets to the new entity. GE would own 62.5 per cent of the new partnership, Baker Hughes 37.5 percent of them through a new company listed on the New York Stocks.

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