Italy’s Agnellis Divest Further With $700 Million CNH Stake Sale

AI Summary

CNH Industrial agreed to sell 70% of its construction equipment business to a subsidiary of Japan’s Kobe Steel. The transaction is part of efforts by the Agnelli family to streamline its industrial holdings, alongside a reported $700 million sale of its CNH stake.

CNH Industrial NV agreed to sell 70% of its construction equipment business to a unit of Japan’s Kobe Steel, furthering efforts by Italy’s Fiat-founding Agnelli family to streamline its industrial holdings.