Johnson Controls explores potential $5B sale of heating and ventilation assets within its HVAC division.

Johnson Controls International Plc is considering the sale of its heating and ventilation assets, which could be valued at up to $5 billion. The assets are part of its Heating, Ventilation and Air Conditioning (HVAC) division and include most of the York International operations acquired in 2005 and a 60% stake in an air conditioning joint venture with Hitachi Ltd. launched in 2015. Johnson Controls has enlisted advisers to help find potential buyers, but there's no certainty transactions will follow.

January 26, 2024
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