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Baker SDS and MHWirth combine to create HMH

Rig Lynx
  • By Rig Lynx
  • Oct 04, 2021
  • Category : Archives
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Baker Hughes and Akastor ASA completed the transaction that combines the operations of Baker Hughes' Subsea Drilling Systems (SDS) business with Akastor's wholly owned subsidiary, MHWirth AS (MHWirth) in line with the terms and conditions described in the earlier announcement.

 

The company, which is owned 50/50 by Baker Hughes and Akastor, will be named HMH. The operations and services of SDS and MHWirth will continue to be offered under the current branding during an integration and transition period.

 

As part of the transaction, Akastor has today received a net cash consideration of approximately USD 78 million constituting the agreed consideration to Akastor of USD 100 million less specific transaction adjustment factors.

 

Source: PR Newswire

 

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