Putin clears sale of Caterpillar’s Russian assets

Reuters

28 November 2023

President Vladimir Putin has approved the purchase of the Russian assets of US machinery maker Caterpillar by Russia’s PSK-New Solutions, owned by ex-Sberbank executives, according to a decree published on Monday and a corporate database.

The decree did not disclose the value of Caterpillar’s Russian business. The company, which makes machinery for the construction, mining and oil and gas industries, did not immediately reply to a request for comment.

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