Bosch to Buy JCI Air-Conditioning Assets in $8 Billion Deal
- Transaction to nearly double Bosch’s home comfort business
- Deal includes production, development sites in 30 countries
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Robert Bosch GmbH plans to buy Johnson Controls International Plc’s heating and ventilation assets for $8 billion, the German company’s biggest deal ever as it diversifies away from automotive supplies.
As part of the deal, Bosch will acquire full ownership of Johnson Controls’ air-conditioning joint venture with Hitachi, including the Japanese manufacturer’s 40% stake, Bosch said Tuesday. All parties have signed binding agreements, and the deal is expected to close in 12 months, subject to regulatory approval.