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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
09/04/201509:00:00Caterpillar to Participate in the 2015 RBC Capital Markets' Industrials...
09/02/201516:37:36Statement of Changes in Beneficial Ownership (4)
09/02/201516:24:57Statement of Changes in Beneficial Ownership (4)
09/02/201516:17:11Statement of Changes in Beneficial Ownership (4)
09/02/201516:11:06Statement of Changes in Beneficial Ownership (4)
09/02/201516:06:14Statement of Changes in Beneficial Ownership (4)
08/31/201517:32:48Statement of Changes in Beneficial Ownership (4)
08/24/201522:00:00Boeing to Lay Off Hundreds of Workers at Satellite Business
08/20/201509:10:02Current Report Filing (8-k)
08/18/201503:54:00Seeing Machines, Caterpillar in Talks for Next Phase of Global...
08/14/201511:24:37KAZ Minerals Signs $50 Million Facility With Caterpillar
08/11/201509:20:36U.S. Charges 9 in Big Insider Trading Scheme
08/10/201509:00:00Caterpillar to Participate in the Jefferies 2015 Industrials...
08/05/201509:00:00Caterpillar to Host a Teleconference with Investors and Analysts...
08/04/201516:16:41Statement of Changes in Beneficial Ownership (4)
08/04/201515:55:00Statement of Changes in Beneficial Ownership (4)
08/04/201515:50:26Statement of Changes in Beneficial Ownership (4)
08/04/201515:46:36Statement of Changes in Beneficial Ownership (4)
08/04/201515:38:18Statement of Changes in Beneficial Ownership (4)
07/31/201514:53:39Statement of Changes in Beneficial Ownership (4)

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