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Caterpillar To Sell Majority Stake In 3rd-Party Logistics Operations For $750 Million

DOW JONES NEWSWIRES Caterpillar Inc. (CAT) plans to sell a majority stake in its third-party logistics division to private equity firm Platinum Equity for roughly $750 million. Under the agreement, Caterpillar will retain a 35% stake in the business. Further financial details weren't disclosed. Caterpillar Group President Stu Levenick said the planned sale reflects the company's aims to focus on its core businesses. The deal is expected to close in the third quarter. The world's biggest maker of bulldozers, excavators and other earth-moving machinery last month reported its first-quarter earnings rose 29% as improved sales of construction machinery in the U.S. and global demand for mining equipment offset weaker sales in China, Brazil and Europe. The company also raised its forecast for the year, although some investors expected a bigger increase and fretted that a wobbly global economy will leave Caterpillar with too much inventory and production capacity. Shares were recently up 1.2% to $97.15 in premarket trade. The stock is up 6% since the start of the year. -By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com

Stock News for Caterpillar (CAT)
DateTimeHeadline
06/26/201516:51:08Annual Report of Employee Stock Plans (11-k)
06/26/201516:45:02Annual Report of Employee Stock Plans (11-k)
06/26/201516:38:31Annual Report of Employee Stock Plans (11-k)
06/26/201516:33:01Annual Report of Employee Stock Plans (11-k)
06/26/201516:28:10Annual Report of Employee Stock Plans (11-k)
06/26/201516:23:33Annual Report of Employee Stock Plans (11-k)
06/26/201516:18:20Annual Report of Employee Stock Plans (11-k)
06/26/201516:13:32Annual Report of Employee Stock Plans (11-k)
06/24/201516:37:00Caterpillar: TPA Passage a Significant Victory for Trade Liberalization...
06/23/201507:53:30Seeing Machines Says Cat Dealers Achieving Mining Sales Success
06/18/201509:10:28Current Report Filing (8-k)
06/18/201508:57:00Caterpillar and Modustri to Collaborate on Equipment Monitoring...
06/16/201518:03:03How Investors Can Determine if Caterpillar, Inc.'s Dividend Is...
06/16/201517:10:03These Stocks Just Raised Their Dividends
06/15/201516:07:02Is Shareholder Dissent With Caterpillar, Inc.'s Executive Compensation...
06/12/201514:52:19Current Report Filing (8-k)
06/11/201517:33:11Statement of Changes in Beneficial Ownership (4)
06/11/201517:16:39Stocks to Watch in Construction Machinery: Caterpillar Inc. and...
06/11/201516:25:182 Stocks to Watch in Mining Equipment
06/11/201511:00:00Caterpillar Announces Officer Changes Including Retirements and...

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