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One of the world's largest American oilfield services companies, Baker Hughes, a GE announced that it intends to acquire a 5% stake in ADNOC Drilling, a drilling division of the Abu Dhabi National Oil Company, for $550 million, finversia.ru writes. The American company BHGE, 62.5% of shares of which have been owned by General Electric since July 2017, estimated the division at 11 billion dollars. ADNOC CEO Sultan Ahmed Al Jaber noted that the partnership with BHGE would allow Abu Dhabi to offer its integrated drilling services outside the UAE, increase profitability, and also enable the exchange of technologies. It is expected that the deal, already approved by the boards of directors of both companies, will be completed in the fourth quarter of this year.
Alibaba Group Holding Ltd's (BABA) co-founder Jack Ma sold $8.2 billion worth of shares, reducing his stake in the company over the past year from 6.2% to 4.8%. The Chinese e-commerce company released its annual report on Friday. The divestment ...
Chinese Internet service provider Tencent Holdings Ltd (0700.HK) said on Friday that it is discussing an investment worth $200 Million in the world's largest music company Warner Music Group (WMG) as part of its initial public offering ...
SoftBank Group Corp. (SFTBY) announced on Thursday morning that it plans to sell 5% of its stake in SoftBank Corp., a separately listed Japanese wireless mobile company. The move would raise 310.2 billion Yen ($2.9 billion) through securities ...
Stuttgart-based car and trucks maker Daimler said that it expects the operating profit from its Mercedes-Benz unit to exceed that of the previous year. The announcement came even after the company had abandoned its outlook earlier in April. The ...
E-commerce giant Alibaba Group Holding Ltd said that they had plans to buy a minimum of 10% of Yunda Holding Co Ltd according to two sources with knowledge in the matter. Alibaba has been leaning on buying the stake from Yunda’s major ...
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