Baker Hughes: creates joint venture with Cactus

Published: 2025-06-02 09:55:29 ET BKR

Published on 06/02/2025 at 09:55

Baker Hughes announces a joint venture agreement with a subsidiary of Cactus Inc., to which it will contribute its Surface Pressure Control (SPC) business. Cactus will own 65% of the new entity and will have operational control, while Baker Hughes will retain a 35% stake.The joint venture, which is independent from Cactus' existing businesses, will focus on the international wellhead and production tree markets. This transaction is part of Baker Hughes' strategy to focus on strengthening the profitability of its portfolio while reallocating capital to higher-return segments.The agreement is expected to close in H2 2025, subject to regulatory approvals.Copyright (c) 2025 CercleFinance.com. All rights reserved.