Dresser-Rand Group will acquire Spanish privately held company, Grupo Guascor, in a cash and stock transaction. The high-speed rotating equipment and service solutions supplier will pay a total of about $690 million for the acquisition.

The value of the enterprise also includes the assumption of about $172 million in net debt. The transaction, which is pending regulatory approvals, is expected to close in the second quarter 2011.

Click here for the release fromPR Newswire.