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Bosch says it aims to close transaction this month

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Could be close to Bosch's largest ever issue, Handelsblatt

says

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Proceeds to be used for investment, M&A

(Recasts with company comment, background)

BERLIN, May 20 (Reuters) - German car parts supplier

Bosch plans to place a bond worth several billion euros to raise

capital for investments, innovation and future acquisitions, the

company said on Tuesday.

Business daily Handelsblatt, which first reported the news,

said the bond would be placed in the next few days, citing

financial sources.

The company has approached potential investors for the new

bond, Handelsblatt said, adding the size had not been finalised

but was expected to be close to the company's largest ever

issue, which was in 2023 and totalled 4.5 billion euros.

A spokesperson for Bosch confirmed that the company aimed to

close the transaction in May, declining to provide further

details on an ongoing process.

The company intends to use part of the raised capital to

finance its planned acquisition of parts of the heating, cooling

and ventilation business of Johnson Controls ( JCI )/Hitachi ( HTHIF ), the

spokesperson added, its largest takeover to date.