Johnson Controls Agreed To Sell Its Residential And Light Commercial HVAC Business, Including Its North America Ducted Business And 60% Stake In The Johnson Controls-Hitachi Air Conditioning Joint Venture, To Robert Bosch GmbH For ~$8.1B In Cash, With Johnson Controls Receiving About $6.7B, While Hitachi Sells Its 40% Interest In The Joint Venture And Acquires Specific Assets As Part Of The Deal.
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Johnson Controls has agreed to sell its Residential and Light Commercial HVAC business, including its North America Ducted business and 60% stake in the Johnson Controls-Hitachi Air Conditioning joint venture, to Robert Bosch GmbH for approximately $8.1 billion in cash. Johnson Controls will receive about $6.7 billion, subject to adjustments, plus the assumption of certain liabilities.
July 26, 2024 | 8:45 pm
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Johnson Controls is selling its Residential and Light Commercial HVAC business to Robert Bosch GmbH for approximately $8.1 billion. Johnson Controls will receive about $6.7 billion, subject to adjustments, plus the assumption of certain liabilities.
The sale will provide Johnson Controls with a significant cash inflow of approximately $6.7 billion, which can be used to strengthen its balance sheet, invest in other areas, or return value to shareholders. This is likely to be viewed positively by investors.
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