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Article: Caterpillar Logistics Services and Phoenix Venture Holdings Agree to Sale of MG Rover's Parts Business.
- Article from:
- PR Newswire
- Article date:
- July 9, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DESFORD and LONGBRIDGE, United Kingdom, July 9 /PRNewswire/ --
- Caterpillar Inc. Subsidiary to Acquire Ownership of Marketing, Sales and Distribution of MG Rover Parts and Accessories Worldwide
Caterpillar Logistics Services (UK) Limited ("Cat Logistics"), a wholly owned subsidiary of Caterpillar Inc. (NYSE: CAT), and Phoenix Venture Holdings Limited ("PVH") are pleased to announce that they have reached an agreement for Cat Logistics to acquire the parts business of U.K. auto manufacturer, MG Rover, a wholly owned subsidiary of PVH. The value of the transaction is in excess of 100 million GBP, with an ongoing profit sharing agreement.
Cat ...