Siemens will pay USD 7,6 billion for Dresser-Rand

(Photo: Suzana Obradović)

German concern, Siemens, will buy the American company for oil industry equipment production, Dresser-Rand for USD 7, 6 billion.

As Siemens announced, the supervisory board approved the decision of the managing board on the purchase of all issued shares of Dresser-Rand which are traded in within friendly takeover. The Management board of the American firm approved the transition unanimously.

German concern is planning to acquire it by the end of 2015, Interfax agency reports.

The offer totals USD 83 per share of Dresser-Rand. According to trading data on Friday, the American company’s rating at the New York stock market increased by 9,4%, to USD 79,91.

The acquisition of the American company will enable Siemens to strengthen the position in the field of equipment for oil and gas production from slate, the branch which has been developing extremely dynamic in USA, experts say.

Last year, Dresser-Rand which producers turbines and compressors generated USD 3 billion while the same Siemens’ indicator reached USD 97 billion.