Johnson Controls To Divest Residential And Light Commercial HVAC Businesses In $8.1B Deal With Bosch
$JCI
Industrial Machinery/Components
Industrials
- Divestiture Advances Johnson Controls' Transformation into a Pure-Play Provider of Comprehensive Solutions for Commercial Buildings
- Transaction Valued At $8.1 Billion; JCI Consideration of $6.7 Billion
- Company Provides Preliminary 2024 Third Fiscal Quarter Earnings Update
- The transaction includes the North America Ducted business and global Residential joint venture with Hitachi, Ltd. ("Hitachi"), of which Johnson Controls owns 60% and Hitachi owns 40%. The total transaction is valued at $8.1 billion, and the Company's portion of the consideration is approximately $6.7 billion. As part of the transaction, Hitachi will retain certain ductless HVAC assets located in Shimizu, Japan