Feb 11 (Reuters) – Oilfield services provider Baker Hughes is exploring a potential $1.5 billion sale of its Waygate Technologies unit, Bloomberg News reported on Wednesday, citing people with knowledge of the matter. A sale process of the unit, which provides industrial testing and inspection equipment, could kick off in the next few months and […]
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Baker Hughes explores $1.5 billion sale of Waygate unit, Bloomberg News reports
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Feb 11 (Reuters) – Oilfield services provider Baker Hughes is exploring a potential $1.5 billion sale of its Waygate Technologies unit, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.
A sale process of the unit, which provides industrial testing and inspection equipment, could kick off in the next few months and attract interest from private equity firms, the report added.
Last year, the company agreed to buy Chart Industries in a $13.6 billion all-cash deal, to leverage its industrial and energy technology portfolio to drive growth and expand its presence in the natural gas and LNG sectors.
Baker Hughes CEO Lorenzo Simonelli has been reshaping the company to adapt to the global energy transition, shedding non-core assets while investing in cleaner energy solutions.
The company declined to comment on the potential sale, when contacted by Reuters.
(Reporting by Pooja Menon in Bengaluru; Editing by Shailesh Kuber)