Baker Hughes offers remedies to obtain EU nod for Chart deal

Baker Hughes Co

Mon 10:17

    BRUSSELS, June 22 (Reuters) - U.S. oilfield services ‌firm Baker Hughes BKR.O has offered remedies in an effort to secure EU antitrust approval for its $13.6 billion acquisition of Chart Industries GTLS.N, a European Commission filing showed on Monday.
The Commission, which acts as the European Union's competition enforcer, did not provide details of the proposed remedies, in line with its policy. It set a July 10 deadline for its decision.
It will likely seek feedback from clients and rivals of the two companies before deciding whether to accept the remedies, demand more or open a full-scale four-month-long investigation if it has serious concerns.
Baker Hughes announced the ​deal in July last year ⁠to reinforce its presence in ​industrial technology servicing liquefied natural ​gas and data centres and to leverage its industrial and energy technology portfolio.
Chart makes ​industrial equipment such as valves ​and ⁠measurement technology for gas and liquid molecule handling and has ⁠65 ​manufacturing locations with ​more than 50 service centres globally.

 (Reporting by Foo Yun Chee, editing by Milla Nissi-Prussak)
 ((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.net/))