Nov 29 Baker Hughes Inc said it has
reached an agreement with CSL Capital Management and Goldman
Sachs Group Inc's merchant banking division to create a
hydraulic fracturing company in which Baker Hughes will own a
46.7 percent stake.
Under the terms of the agreement, oilfield services provider
Baker Hughes will contribute its North American land cementing
and hydraulic fracturing businesses, which comprises of assets
in the United States and Canada.
Upon closing, CSL Capital Management will contribute its
allied energy services platform, which provides hydraulic
fracturing and cementing services on land in North America.
CSL Capital Management and Goldman Sachs's West Street
Energy Partners will together own 53.3 percent of the new
(Reporting by Ahmed Farhatha in Bengaluru; Editing by Shounak