Joy Global Completes Sale of Drilling Business

Joy Global announces it has completed the transaction of selling its drilling products business.

Joy Global Inc. (Joy Global), a worldwide leader in high-productivity mining solutions, announces that it has completed the transaction to sell the drilling products business of its LeTourneau Technologies Inc. (LeTourneau) business to Cameron International Corporation (Cameron) for $375 million in cash, subject to certain post-closing adjustments.

Bank of America Merrill Lynch served as exclusive financial advisor to Joy Global on this transaction. Covington & Burling LLP served as legal advisor.