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Caterpillar Inc. (NYSE: CAT) and Platinum Equity announced today that Platinum Equity’s acquisition of a majority interest in Caterpillar Logistics Services has been completed. Caterpillar will retain a 35 percent equity stake in the business. The overall transaction is valued at approximately $750 million.
Caterpillar Logistics Services is the third party logistics division of Caterpillar’s wholly owned subsidiary, Caterpillar Logistics Inc. (Cat Logistics). Platinum intends to establish the business as a standalone company under a new brand that will be announced at a later date.