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Centerbridge, BC Partners Eye Caterpillar Unit

Private equity firms Centerbridge Partners and BC Partners are seeking to acquire a stake in the logistic operation of Caterpillar.

Private equity firms Centerbridge Partners and BC Partners are seeking to acquire a stake in the logistic operation of Caterpillar, Reuters reports. The sustainable world progress and opportunity enabler may obtain a total of around $1 billion from the sale of the unit.

Caterpillar has appointed Bank of America Merrill Lynch and Robert W Baird to review a potential sale of the unit. Two or three parties are remaining in the auction process that has reached the final round.

Click here for the story from Reuters.

Click here for additional coverage from City A.M.

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