Johnson Controls to sell heating and ventilation assets to Bosch in $6.7 billion deal-February 2024-www.financetom.com

Johnson Controls to sell heating and ventilation assets to Bosch in $6.7 billion deal

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Johnson Controls to sell heating and ventilation assets to Bosch in $6.7 billion deal

Jul 23, 2024 1:57 AM

(Reuters) - Johnson Controls International ( JCI ) said on Tuesday that it will sell a portfolio of its heating and ventilation units to Germany's Bosch Group for $6.7 billion.

The sale of JCI's residential and light commercial heating, ventilation and air conditioning (HVAC) assets includes its North America ducted business and its residential joint venture with Japan's Hitachi ( HTHIF ).

Including Hitachi's ( HTHIF ) consideration, the transaction is valued at $8.1 billion, JCI said.

Hitachi ( HTHIF ) will retain certain ductless HVAC assets in Shimizu, Japan, JCI added.

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