Nov 21 (Reuters) - Downer EDI DOW.AX said on Tuesday it plans to sell its freight rail business to Caterpillar Inc (NYSE:CAT) CAT.N unit Progress Rail for A$109 million ($82.18 million).
The company said in a statement it expected to book a non-cash write down of A$40 million in relation to the divestment, and about 360 people employed by the freight rail business would be transferred to Progress Rail as a part of the deal. ($1 = 1.3264 Australian dollars)