Carrier Inks Definitive Deal To Sell Its Commercial And Residential Fire Business To Affiliate Of Lone Star Funds For Enterprise Value Of $3B
Portfolio Pulse from Benzinga Newsdesk
Carrier has signed a definitive agreement to sell its commercial and residential fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion. Carrier plans to use the estimated $2.2 billion in net proceeds from the transaction for share repurchases.
August 15, 2024 | 11:05 am
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Carrier is selling its commercial and residential fire business for $3 billion and plans to use $2.2 billion of the proceeds for share repurchases.
The sale of the fire business will provide Carrier with significant liquidity, which it plans to use for share repurchases. This is likely to be viewed positively by investors as it indicates a return of capital to shareholders and could lead to a short-term increase in the stock price.
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