Justice Department Requires General Electric Company to Make Incentive Payments to Encourage Completion of Divestitures Agreed to as a Condition of Baker Hughes Merger

The Department of Justice announced that General Electric Co. (GE) has agreed to make incentive payments beginning in 2018 until GE completes the worldwide divestiture of its Water & Process Technologies business (GE Water). GE agreed to divest GE Water to resolve the Department’s competitive concerns with GE’s acquisition of Baker Hughes Incorporated. As part of the original proposed settlement filed on June 12, 2017, GE committed to divest the worldwide assets of GE Water to SUEZ S.A., a leading global water and waste management company, by approximately the end of September 2017.