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Company News

Weir Group to sell oil & gas division to Caterpillar for $405 million

Oct 5 (Reuters) - Engineering company Weir Group Plc said on Monday it had agreed to sell its oil and gas division to U.S. heavy equipment maker Caterpillar Inc for $405 million in cash.

The company said the deal, which is expected to close by the end of the year, would help it strengthen its balance sheet to enable future investments. (Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Vinay Dwivedi)

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