07:49 AM EDT, 10/02/2024 (MT Newswires) -- Carrier Global ( CARR ) said Wednesday that it has completed the sale of its commercial refrigeration business to its joint venture partner Haier for an enterprise value of $775 million.

The company said that Carrier Transicold transport refrigeration, Sensitech and the Lynx digital ecosystem are not included in the transaction and remain core to Carrier Global ( CARR ).

"Three of four announced business exits are now complete and the sale of Commercial and Residential Fire is expected to close by the end of 2024," Carrier Chairman and Chief Executive Officer, David Gitlin, said.

The company said it plans to use the net proceeds from the transaction to pay down debt.

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