GEA sells heat exchangers unit to Triton

FRANKFURT, April 16 Wed Apr 16, 2014 12:56am EDT

FRANKFURT, April 16 (Reuters) - German industrial machinery and process engineering group GEA Group said it has agreed to sell its heat exchangers division, with an enterprise value of about 1.3 billion euros ($1.8 billion), to private equity investor Triton.

Two people familiar with the matter had told Reuters on Tuesday that Frankfurt-based private equity group Triton had beat out a rival consortium made up of buyout group EQT and industrial services group Bilfinger.

($1 = 0.7234 Euros) (Reporting by Maria Sheahan; Editing by Miral Fahmy)