Emerson sells 40% stake in Copeland joint venture to Blackstone for $3.5B, simplifying portfolio and paying down debt.
Emerson has agreed to sell its remaining 40% stake in the Copeland joint venture to Blackstone for $3.5 billion. The deal simplifies Emerson's portfolio and focuses on automation. Blackstone will purchase Emerson's equity ownership, with the deal expected to close in the second half of 2024. Emerson plans to use the $2.9 billion after-tax cash proceeds to pay down debt obligations.
June 06, 2024
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