London (Reuters) - General Electric Co. (GE.N) has agreed to buy tubes-maker Wellstream Holdings Plc (WSML.L) drill to 800 million pounds ($1.3 billion), British Petroleum as GE continues its push in the offshore oil industry.
The agreement is the latest in a series of GE buys in the area of services of oil in the past years and shows that, despite the BP (BP.L) oil in the Gulf of Mexico summer spill, industry expects to continue the pace of drilling in deep water.
The acquisition would also allow the GE a solid foundation to Brazil where Wellstream has a manufacturing plant.
Recent years in very deep water - traditionally cost for producers of oil and the strong possibility for manufacturers of hardware - and Brasilia encourages the use of locally produced documents Brazil has made a series of discoveries of several billions of barrels of oil.
GE Wellstream said in a joint statement Monday that GE would pay investors Wellstream pence 780 counting more than a special dividend of 6%, Wellstream per share, compared to a 750 pence/share filed in September submission Wellstream scrapped.
Wellstream is one of only three leading manufacturers of "editing" flexible pipes linking platforms to heads of wells on the seabed.
His two main rivals is Technip (TECF.PA the France) and Prysmian (PRY.MI the Italy), while other companies manufacture rigid risers, a competing technology.
Wellstream shares traded 5.0 percent summary pence to 0911 GMT, suggesting investors did not expect a rival bid to emerge.
In September, Wellstream stated that he had received a number of approaches.
TREND OF CONSOLIDATION
Energy services has been one of the divisions grew GE, partly through the acquisition.
In October, GE concluded an agreement of $ 3 billion to buy Dresser Inc. (DRESS.UL), a manufacturer of engines used gas equipment for the production of oil and natural gas power.
Rivals have also been occupied alignment of the smaller players.
Monday, oilfield service provider UK Wood Group (WDGJY.PK) said it has agreed to acquire non-traded based rival Aberdeen NHP 955 million, including 325 million of debt, the latest in a long line of wood Group acquisitions.
Although this consolidation enables companies to extract economies, analysts say that often larger driver is usually big oil companies operating in deep waters off the coast of drilling, prefer to deal with the largest service providers offering a wide range of services.
Wellstream was advised by investment Credit Switzerland and Rothschild banks that GE was advised by Goldman Sachs.
(Other reports by Sakthi Prasad in Bangalore;) (Editing by David Holmes)
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