Sime Darby unit buys Caterpillar dealership

PETALING JAYA: Sime Darby Bhd’s wholly-owned subsidiary Sime Darby Industrial Australia Pty Ltd (SDIMA) is acquiring the Cavpower Group, a distributor of Caterpillar equipment in South Australia and Broken Hill in New South Wales, Australia, for A$500mil (RM1.49bil).

In a filing with Bursa Malaysia, Sime Darby said SDIMA had signed a share sale agreement to acquire the entire share capital of Kuxton Pty Ltd and 98.9% share capital of Kagera Pty Ltd.