Deals
Brookfield Is Nearing Deal for Johnson Controls Unit
- Talks are said to be advanced, no final agreement reached
- Transaction would be among largest leveraged buyouts of 2018
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Brookfield Asset Management Inc. is nearing a deal to buy Johnson Controls International Plc’s auto-battery business, according to people familiar with the matter.
JCI, which said in March that it had hired Centerview Partners to run a sale process for the unit, could announce a deal as soon as this week, said the people, who asked not to be identified because they weren’t authorized to speak publicly. A final agreement hasn’t been reached and talks may fall apart or another bidder may emerge, they said.