The proposed sale of Weir's Oil & Gas division to Caterpillar Inc. is now expected to close in the first quarter of 2021. 

As previously announced, completion of the transaction 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.

An agreement to sell the Oil & Gas division to Caterpillar for an enterprise value of $405m, subject to customary working capital and net-debt adjustments, was announced on 5 October 2020. The proposed sale was approved by shareholders in a general meeting on 23 November 2020, with 99.97% of the shares voted being in favour of the transaction. Weir Oil & Gas has been reported under discontinued operations since the sale agreement was announced.

KeyFacts Energy Industry Directory: Weir Oil & Gas