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Baker Hughes A GE Co - Bhge Llc, GE And GE Aero Power Llc Entered “Aero Transaction Agreement" - SEC Filing


Thursday, 28 Feb 2019 05:16pm EST 

Feb 28 (Reuters) - Baker Hughes A GE Co ::BAKER HUGHES A GE CO - BHGE LLC, GE AND GE AERO POWER LLC ENTERED “AERO TRANSACTION AGREEMENT" - SEC FILING.BAKER HUGHES A GE CO - UNDER AGREEMENT, BHGE LLC AGREED TO PAY $60 MILLION TO GE, TO EQUALIZE EACH PARTY’S INTERESTS IN JV AT 50%.BAKER HUGHES A GE CO-AERO TRANSACTION DEAL SETS TERMS TO WHICH CO, GE TO CONTRIBUTE SOME AERO-DERIVATIVE GAS TURBINE RELATED ASSETS, LIABILITIES TO JV.BAKER HUGHES A GE CO - ON FEB 25, 2019, BHGE LLC AND GE ENTERED INTO IST SALE AGREEMENT.BAKER HUGHES A GE CO - IST SALE AGREEMENT PROVIDES BHGE LLC WILL MAKE CASH PAYMENT OF $13 MILLION TO AFFILIATE OF GE AT CLOSING OF TRANSACTION.BAKER HUGHES A GE CO-$13 MILLION PAYMENT UNDER IST SALE AGREEMENT SUBJECT TO UPWARD ADJUSTMENT IF WORKING CAPITAL OF INDUSTRIAL STEAM TURBINE BUSINESS IS NEGATIVE.BAKER HUGHES A GE CO - IF WORKING CAPITAL OF INDUSTRIAL STEAM TURBINE BUSINESS IS POSITIVE, AFFILIATE OF GE WILL MAKE QTRLY PAYMENTS TO BHGE LLC FOR 1 YEAR. 

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