Deere to raise stake in Nortrax

Dec 28, 2003

Deere said Dec. 15 it will buy an extra 42 percent stake in Nortrax, its largest construction and forestry equipment dealer. The $112 million purchase from Credit Suisse First Boston Equity Partners will raise Deere’s stake in Nortrax to 83 percent. Deere said it will buy the remaining stake next year for $55 million.

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