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Weir Group Completes Sale Of Oil & Gas Division To Caterpillar For $405 Mln LONDON (dpa-AFX) - Weir Group PLC (WEIR.L) said it completed the sale of its Oil & Gas division to Caterpillar Inc. for an enterprise value of $405 million. The sale, which is subject to customary working capital and debt-like adjustments, was first announced on October 5, 2020 and approved by Weir Shareholders on November 23, 2020. Further, the company stated that the cash proceeds from the sale of the division, subject to customary working capital and debt-like adjustments, will be split between $375 million receiv...

Weir completes sale of Oil & Gas to Caterpillar Inc. 02 Feb 2021 Caterpillar Inc. The sale, for an enterprise value of $405m, subject to customary working capital and debt-like adjustments, was first announced on 5 October 2020 and approved by Weir Shareholders on 23 November 2020.  Since then, the Group’s joint venture partner in Saudi Arabia-based Arabian Metals Company (AMCO) has exercised its pre-emption right, as set out in the Class 1 circular published on 3 November 2020, to purchase Weir’s 49% stake in AMCO.  Therefore, the cash proceeds from the sale of the division, subject t...