09:27 AM EST, 12/02/2024 (MT Newswires) -- Carrier Global ( CARR ) said Monday it has completed the sale of its commercial and residential fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion.

The company intends to use the expected $2.2 billion net proceeds from the sale to finance stock buybacks, with at least $1 billion under an accelerated share buyback plan, it added.

Carrier shares were 0.4% higher in premarket trading.