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
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Wall Street bulls say stock rally can resume even without rate cuts
WTI expected to continue pullback before rebounding
Yen tumbles to 34-year low; US dollar gains after inflation data
Singapore banks unlikely to surprise at Q1 earnings, but expect upside from delayed rate cuts: analysts
Fed repricing gives rise to new equities playbook in Asia
Dasin Retail Trust’s creditor to repossess director’s properties over loan default