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Johnson Controls to sell heating and ventilation assets to Bosch in $6.7 bln deal
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Johnson Controls to sell heating and ventilation assets to Bosch in $6.7 bln deal
Jul 23, 2024 1:57 AM

July 23 (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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