Caterpillar Nabs $115M For Bucyrus African Mining Business

Law360, New York (May 30, 2012, 2:39 PM EDT) -- Caterpillar Inc. sold off another portion of the global mining distribution and support network it acquired from Bucyrus International Inc. last year, handing off the South Africa and Botswana portion of the business to Barloworld Limited for $115 million, the companies announced Wednesday.

Barloworld is also assuming Caterpillar's agreements with Eqstra NH Equipment Limited and Eqstra Botswana Limited for its Bucyrus distributorship as part of the deal for an additional $60 million, which will be paid to Eqstra.

The deal, which is expected to close during...
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