Bahrain-basedinvestment firm Arcapita, which acquired Varel in 2007, said on Monday the salewas still subject to regulatory approvals and that it hoped to conclude the dealby the end of the first half.
Sandvik,which initially announced the deal earlier this month, said the acquisitionwould enable it to enter the drilling solutions market in the oil and gassector and would be “slightly accretive” to its earnings in the first year.
Texas-basedVarel
