By Nishant Mohan

ACQUIRERS: Private-equity firm First Reserve and Pietro Fiorentini SpA.

TARGET: Natural Gas Solutions business of Baker Hughes, a GE company. The Natural Gas Solutions business produces gas meters, chemical injection pumps and other products.

DETAILS: Pietro Fiorentini will buy the Talamona branch of its Natural Gas Solutions product line. The branch includes about 40 employees and a manufacturing plant in Italy. First Reserve is buying the piece of the business focused on energy, which will include the transfer of about 450 employees located in eight countries in the deal.

PRICE: $375 million combined. Terms of the individual agreements weren't disclosed.

STATUS: Under agreement.

CLOSING: Second half of 2018.

STOCK: Shares are down 1.2% to $32.24 in morning trading.

Write to Nishant Mohan at nishant.mohan@wsj.com

(END) Dow Jones Newswires

July 18, 2018 10:08 ET (14:08 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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