Bosch, Lennox, Samsung vie for Johnson Controls HVAC assets, sources say

ROBERT Bosch GmbH, Lennox International and Samsung Electronics are among the suitors competing to acquire heating and ventilation businesses worth over US$6 billion from Johnson Controls International, people familiar with the matter said on Friday (Mar 22).

Johnson Controls has been working with its advisers to sell its residential and light commercial businesses, according to the sources, who requested anonymity as the discussions are confidential.

Those businesses include a 60 per cent stake in Johnson Controls–Hitachi Air Conditioning, an air-conditioning joint venture with Japan’s Hitachi, the sources said.

The sources said other bidders could emerge, and any deal, if one emerges at all, is still months away.

Bosch, Lennox, Samsung, and Johnson Controls did not immediately respond to requests for comment. REUTERS