Caterpillar Holdings Australia Pty. Ltd. agreed to acquire Minetec Pty. Ltd. from Codan Limited (ASX:CDA) for approximately $14 million on June 2, 2021. Following completion, Codan will provide manufacturing services to Caterpillar for up to five years. The sale is subject to several conditions and is expected to complete in July 2021. Proceeds received by Codan from the sale will be used to pay down its loan facility, following Codan’s recently announced acquisitions. Aquaa Partners advised on the deal. Caterpillar Holdings Australia Pty. Ltd. competed the acquisition of Minetec Pty. Ltd. from Codan Limited (ASX:CDA) on July 1, 2021.