CNH to sell 70 percent of construction equipment business to Kobelco in US$1 billion joint venture
CNH will receive US$700 million in cash and retain a 30 percent stake as it becomes a pure-play agriculture company, with closing targeted for the end of 2027.
CNH Industrial has agreed to form a joint venture by selling a 70 percent interest in its Construction Equipment business, covering the Case Construction and New Holland Construction brands, to Kobelco Construction Machinery, a subsidiary of Kobe Steel. According to the company's announcement on 9 November 2026, the transaction values the business at an enterprise value of US$1 billion.
CNH will receive US$700 million in cash and retain a 30 percent stake in the joint venture, positioning the company as a pure-play agriculture business. The venture will combine CNH's global sales network with Kobelco's excavator and crane technology, including its K-DIVE remote operation solutions. Closing is targeted for the end of 2027, subject to regulatory approvals, and terms may change before completion. All deal figures come from the companies' announcement.