By Maria Armental
Warren Buffett's Berskshire Hathaway Inc. (BRKA) is buying
Charter Brokerage, a third-party logistics provider to the
petroleum and chemical industries, the company said Friday.
Terms of the deal with Arsenal Capital Partners weren't
disclosed.
It is the second deal the Omaha, Neb., company announced this
month in the energy sector amid falling oil prices.
On Dec. 1, Berkshire Hathaway's Lubrizol unit agreed to buy
Weatherford International PLC's engineered-chemistry and
drilling-fluids business for about $750 million in cash.
Arsenal Capital Partners, a New York private equity firm, had
bought the 3PL provider in 2008.
Mr. Buffett's conglomerate--valued at about $369 billion--saw
its profit fall in the latest period due to a loss from its
investment in British supermarket chain Tesco PLC (TSCO.LN), even
as results topped analysts' expectations as its railroad arm and
other big units continued to ride a rebounding U.S. economy.
Berkshire Class B shares edged up in recent after-hours trading
to $146.60. Though Friday's closing, the company's stock was up 24%
for the year.
Write to Maria Armental at maria.armental@wsj.com
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