Caterpillar to sell part of Bucyrus distribution to Ferreyros
(Reuters) - Caterpillar Inc (CAT.N), the world's biggest heavy machinery maker, said it would sell its Bucyrus distribution and support business in Peru to its distributor Ferreyros (FER.LM) for $75 million.
Caterpillar had bought mining equipment maker Bucyrus International for $7.6 billion last year.
It sold parts of the Bucyrus businesses in similar deals in December last year and early this year.
Caterpillar said about 70 former Bucyrus employees will move to Ferreyros.
Shares of Caterpillar were trading up 1 percent at $107.04 on Monday on the New York Stock Exchange.
(Reporting by Megha Mandavia in Bangalore; Editing by Sreejiraj Eluvangal)