Davis Polk advised Baker Hughes, a GE company in connection with General Electric Company’s secondary offering of $2.84 billion of BHGE Class A common stock.
In addition, BHGE has agreed to repurchase from one of the GE affiliates, in a privately negotiated transaction, $250 million of shares of BHGE Class B common stock, together with an equal number of associated membership interests of Baker Hughes, a GE company, LLC, at a price equal to the price per share at which the underwriters will purchase shares of Class A common stock from GE in the offering.
BHGE is a full-stream provider of integrated oilfield products, services and digital solutions. GE combines world-class engineering with software and analytics to help the world work more efficiently, reliably and safely.
The Davis Polk capital markets team included partner Shane Tintle and associates Cameron C. Lewis, Yoojin L. Kim, Ernesto Talamás Velázquez and Thomas Chen. The tax team included partner William A. Curran and associates Christina L. Tacoronti, Joshua J. Micelotta and Anna Parnes. All members of the Davis Polk team are based in the New York office.