Goldman Sachs buys into Neovia despite debt load

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The entity formerly known as Caterpillar Logistics, which was owned by the vast US heavy equipment manufacturer until it sold a 65% stake to Platinum Private Equity two years ago and was renamed as Neovia Logistics, appears to have undergone another ownership change after the Reuters reported that private equity fund has sold its stake to Goldman Sachs’ private equity fund in cooperation with buyout specialist Rhone Group for $1bn. Interestingly, XPO Logistics was also reported to be bidding for the acquisition, but exited negotiations earlier.