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GE To Spin Off Baker Hughes

The separation from Baker Hughes will take place over the next 2 to 3 years as part of GE’s effort to “make its corporate structure leaner and substantially reduce debt,” the company said in a statement. GE Oil and Gas merged with Baker Hughes in July 2017, with GE holding a 62.5% stake. BHGE’s revenue on an annualized basis is $22 billion.

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