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Archer Limited signed a term sheet with Baker Hughes to potentially acquire Baker Hughes' coil tubing and pumping business in the United Kingdom. The deal is a remedy under a UK Competition and Markets Authority process and remains subject to definitive agreements and CMA approval.
Archer Limited has agreed to sell its AWC Frac Valves unit, based in Conroe, Texas, to a US private equity fund for USD 30 million on a debt- and cash-free basis. An earn-out of up to USD 5 million depends on 2018 results.
