(Reuters) - General Electric Co
Financial terms were not released. 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.
Riverstone previously owned a "significant" stake in Wayne through its investment in Dresser, according to a release posted on the energy-and-power investment firm's website.
GE said last month it was planning to divest $4 billion worth of its industrial businesses this year.
(Reporting by Lewis Krauskopf; Editing by Mohammad Zargham)