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CNH Industrial announced a definitive agreement to sell a 70% interest in its Construction Equipment business to Kobelco Construction Machinery, forming a joint venture. The transaction values CNH's construction equipment business at an enterprise value of $1 billion.
“Today we announced that CNH has entered an agreement with Kobelco Construction Machinery to establish our Construction Equipment (CE) business as a joint venture, 'CE JV.'”supplier.cnh.com
Summarized from public sources; check the original articles before acting on it.