07:27 AM EDT, 08/15/2024 (MT Newswires) -- Carrier Global ( CARR ) said Thursday it has agreed to sell its commercial and residential fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion.

The deal is expected to close by the end of the year, subject to regulatory approvals and customary closing conditions.

The transaction comes as part of a wider divestiture effort to refocus the company's portfolio, Carrier said.

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