General Electric sells Wayne fuel dispensing unit

[riky]

General Electric sells Wayne fuel dispensing unit

<p><a href="http://news.yahoo.com/general-electric-sells-wayne-fuel-dispensing-unit-210901264--sector.html"><img src="http://l2.yimg.com/bt/api/res/1.2/QzGUp666rT1lug6eCU2szQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-05-07T210901Z_1_CBREA461MR300_RTROPTP_2_ALSTOM-OFFER.JPG" width="130" height="86" alt="The logo of US conglomerate General Electric is pictured at the company's site in Belfort" align="left" title="The logo of US conglomerate General Electric is pictured at the company's site in Belfort" border="0" /></a>(Reuters) - General Electric Co has agreed to sell its Wayne fuel dispenser business to private investment firm Riverstone Holdings LLC, the U.S. conglomerate said on Wednesday. Reuters reported last week that a deal for Wayne would likely value the unit at between $500 million and $600 million, according to sources. Austin, Texas-based Wayne was part of Dresser Inc, the energy infrastructure company that GE bought in 2010 for $3 billion. Wayne manufactures fuel dispensers for petroleum retailers and commercial fleets as well as compressed natural gas fueling pumps.</p><br clear="all"/>

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