Johnson Controls Completes $8.1b Sale of Residential Hvac Unit

Spiegel

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The German company Bosch takes over the air conditioning technology division of Johnson Controls for eight billion dollars, the largest acquisition in the company's history. Thus, the Group wants to become more independent from the automotive supply business.

diarioestrategia.cl

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Bosch has completed the largest acquisition of its history with the purchase of Johnson Controls' residential and commercial heating, ventilation and air conditioning (HVAC) business and its joint venture with Hitachi for an amount of 7.4 billion euros, making it almost twice the size of its air conditioning business.

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With an operation valued at $8 billion, the Bosch Group has closed the largest acquisition in its history by integrating Johnson Controls’ residential and light commercial heating, ventilation and air conditioning (HVAC) business into its portfolio, as well as its participation in Johnson Controls-Hitachi Air Conditioning joint venture. The transaction, concluded on July 31 after more than a year of negotiations, marks a turning point for the Ge…