Shareholders okay CNH Global plan to cut debt

Newswire

LAKE FOREST, Ill., March 27 (Reuters) - CNH Global N.V. , a manufacturer of tractors, combines and construction equipment, said on Thursday that shareholders approved plans to reduce the company's net debt by $2 billion. The company will issue convertible perpetual preferred securities to a financial affiliate of CNH's majority shareholder, Fiat S.p.A. . The transaction is expected to close on April 3. CNH, whose agricultural vehicles are sold under the Case IH, New Holland and Steyr ...

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