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APi Group Agrees to $3.1 Billion Takeover of Carrier’s Chubb

  • Blackstone, Viking to invest in APi as part of the deal
  • Carrier to focus on core businesses, including heating systems
Photographer: Tascha Rassadornyindee/EyeEm/Getty Images
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APi Group Corp. agreed to buy Carrier Global Corp.’s Chubb fire-safety and security unit in a deal valuing the business at $3.1 billion including debt.

The transaction was announced in statements Tuesday that confirmed an earlier Bloomberg News report. As part of the deal, APi will receive an $800 million investment from Blackstone Group Inc. and Viking Global Investors in the form of perpetual preferred equity.