GE Continues Energy Push With $3B Dresser Deal

Law360, New York (October 6, 2010, 1:04 PM EDT) -- General Electric Co. on Wednesday announced plans to buy privately held oil and gas infrastructure company Dresser Inc. for $3 billion, marking the latest move in the conglomerate's ongoing campaign to amp up its energy portfolio.

GE will purchase Texas-based Dresser from funds led by Riverstone Holdings LLC and First Reserve Corp., and the deal is expected to “close promptly” after regulatory approval, it said.

Dresser provides technology for gas engines, control and relief valves, and fuel distribution to customers in more than 150 countries. The...
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