Baker Hughes completes sale of interest in WesternGeco
Posted: 29 April 2006
Baker Hughes Incorporated reported that it has completed the sale of its 30 per cent minority interest in WesternGeco, a seismic venture created November 30, 2000 with Schlumberger Limited, to Schlumberger for $2.4 billion in cash.
Baker Hughes expects to record a pre-tax gain of approximately $1.74 billion (approximately $1.05 billion, net of tax).
Cash proceeds, net of tax, were approximately $1.8 billion.
Posted by Richard Price, Editor, EnergyME.com
Information supplied by companies or PR agencies who are responsible for content.
Send press releases to richard@energyme.com |
