Baker Hughes is divesting the CT&P business as a part of a remedy package offered to the UK Competition and Markets Authority. The CMA is undertaking a public consultation process with Archer and one other potential purchaser, which is expected to conclude by 01 February 2023.
The contemplated transaction is subject to Archer being selected as the preferred purchaser by Baker Hughes, definitive agreements, final approval by the CMA, and Archer Board approval.
