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Market Chatter: Caterpillar's Russian Assets Transferred to Armenian Fund-Backed Company
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Market Chatter: Caterpillar's Russian Assets Transferred to Armenian Fund-Backed Company
Jun 17, 2024 6:43 AM

09:20 AM EDT, 06/17/2024 (MT Newswires) -- Caterpillar ( CAT ) had transferred its former Russian assets to a company owned by Armenian investment fund Balchug Capital, Reuters reported Monday, citing Russian company filings.

Russian President Vladimir Putin issued an order in November 2023, allowing PSK-New Solutions to purchase 100% stake in Caterpillar Tosno and Caterpillar Financial. Reuters said the filings did not disclose the terms of the deal.

The asset transfer was completed on June 14 this year, Reuters said.

Neither Caterpillar ( CAT ) nor Balchug Capital immediately responded to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 320.83, Change: -0.64, Percent Change: -0.20

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