India, June 9 -- Energy technology company Baker Hughes Co. (BKR) announced Monday an agreement to sell its Precision Sensors & Instrumentation or PSI product line to Crane Co. (CR) for a total cash consideration of around $1.15 billion.
Meanwhile, Crane, a diversified manufacturer of engineered industrial products, in its statement noted that the deal price is $1.06 billion after adjusting for expected tax benefits with an estimated net present value of around $90 million.
The deal is expected to close at the end of 2025 or early 2026, subject to customary conditions, including regulatory approvals.
PSI, part of Baker Hughes Industrial & Energy Technology segment, includes the Druck, Panametrics and Reuter-Stokes brands. They manufactur...