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Weir says completion of oil unit sale to slip into 2021
StockMarketWire.com
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Mining engineering company Weir said the completion of a planned $405 million sale of its oil and gas division to Caterpillar was expected to push into the first quarter of 2021.
Weir had previously said completion of the deal by the end of this year was dependent on the receipt of all regulatory clearances.
'While the majority of these clearances have been received, including those from the United States, a small number remain outstanding, with the timing of some standard processes being delayed by Covid-19 restrictions,' it said.
The sale was first flagged in October.
Story provided by StockMarketWire.com
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