Western publications reported the company’s sale of its Russian business to the company’s local representative office. However, the financial terms of the deal were not disclosed.
Baker Hughes, the world leader in oilfield services, has announced the sale of its Russian business. This was reported by Reuters news agency on Monday, August 1.
Its business in the Russian Federation was purchased by the Russian management of the local representative office of the company.
The media said the financial terms of the deal were not disclosed.
The new owner of the business will take over all assets, liabilities and commercial obligations of Baker Hughes in the Russian Federation, the news agency notes.
It should be noted that in July this year, the company reported a non-operating loss in its Russian division in the amount of $426 million at the end of the second quarter.
Recall that the international tea company Ekaterra, which owns brands such as Lipton, Saito and Brooke Bond, announced the termination of its activities in Russia.
It was previously reported that popular furniture retailer IKEA is selling four of its factories in Russia and reducing its staff.
In addition, Coca-Cola HBC will no longer manufacture or sell Coca-Cola or other brands in Russia.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.