Massy enters deal to sell Caterpillar business line

Massy Holdings Limited has entered into an asset purchase agreement to sell its Caterpillar line of business in Trinidad & Tobago for US$16 million ($25.24 billion) as it redeploys capital across its other objectives.

The investment holding company is expected to sell certain assets and related business interests associated with the Caterpillar (CAT) line of business to Machinery Corporation Motors Limited, a subsidiary of Machinery Corporation of America Inc. (MACORP)

Caterpillar is an American company which manufactures construction, mining and engineering equipment used across the globe. These includes backhoe loaders, hydraulic excavators, bulldozers and motor graders. Machinery Corporation is a private wholesale distributor of construction, mining and excavating machinery and equipment.