Speculation of such a merger has been fuelled by the appointment of offshore veteran John Kennedy as chairman of Vetco International, complementing his current role as chairman of Candover-owned Wellstream.
A private equity syndicate comprising European buyout specialist Candover, London-based venture capital company 3i, and JP Morgan Partners of New York agreed to pay $925 million for the package from ABB, with a potential deferred consideration of up to $50 million more depending on results in 2004.
The
