CNH to Sell 70% of Construction Equipment Business to Kobelco for $1 Billion
CNH Industrial said it is selling a 70% interest in its construction equipment business to Kobelco Construction Machinery in a deal valued at $1 billion. The transaction will create a joint venture.
Farm equipment manufacturer CNH Industrial NYSE:CNH said on Monday it is selling a 70% interest in its construction equipment business to Kobelco Construction Machinery, a unit of Japanese steel manufacturer Kobe Steel TSE:5406, in a deal valued at $1 billion.The deal will create a joint venture ca…