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Baker Hughes sold part of its business to Cactus Inc. for $344.5 million, boosting its finances ahead of a major acquisition.
Baker Hughes has completed a joint venture with Cactus Inc., transferring its surface pressure control business to a new entity where Cactus holds 65% and Baker Hughes retains 35%.
The deal generated $344.5 million in cash for Baker Hughes, strengthening its balance sheet and supporting its strategy of disciplined portfolio management and capital redeployment.
The joint venture will operate independently, focusing on global wellhead and production tree systems.
The transaction follows Baker Hughes’ ongoing efforts to enhance capital efficiency and supports its pending $13.6 billion acquisition of Chart Industries, expected by mid-2026.
Baker Hughes vendió parte de su negocio a Cactus Inc. por $344,5 millones, aumentando sus finanzas antes de una adquisición importante.