By OGJ editors
HOUSTON, Jan. 9 -- GE Oil & Gas has agreed to acquire oil and gas equipment supplier Vetco Gray for $1.9 billion from Candover, 3i, and JP Morgan Partners.
The deal is expected to close in early 2007.
Vetco Gray supplies drilling, completion, and production equipment for oil and gas fields, including subsea applications.
Upon completion of the transaction, Candover, 3i, and JP Morgan Partners will continue to own Vetco Aibel, which provides design, engineering, construction, and maintenance of production facilities, process systems, and related products.
