Caterpillar Inc. (NYSE:CAT) announced Thursday that it would pay $29.5 million to the sellers of Chinese equipment maker to resolve all outstanding issues. This deal reached by the world’s largest maker of construction equipment is considerably less than the $164.5 million that it was contracted to pay to Emory Williams and James Thompson Jr., who controlled Siwei via a Hong Kong-listed entity, and two other parties. Caterpillar Inc. (NYSE:CAT) said it had reached a settlement to resolve disputes arising from its $700 million purchase of ERA Mining Machinery Ltd (HKG:8043), cutting its outstanding obligations on the deal by $135 million. The…
Caterpillar Inc. (CAT) Settles China Deal With Cut In Purchase Price
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports