June 2 (Reuters) - Codan Ltd (CDA) :
- SALE OF MINETEC PTY LIMITED
- TO SELL 100% OF SHARES IN UNIT TO CATERPILLAR HOLDINGS AUSTRALIA FOR ABOUT $US14 MILLION
- UNDER DEAL, CODAN WILL PROVIDE MANUFACTURING SERVICES TO CATERPILLAR FOR UP TO FIVE YEARS
- WILL RESULT IN A ONE-OFF GAIN BEFORE TAX IN ORDER OF $AU3 MILLION
- FUNDS RECEIVED BY CODAN FROM SALE WILL BE USED TO PAY DOWN ITS LOAN FACILITY
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