Majority stake Announced Nov 2022
Emerson to Sell Majority Stake in Climate Technologies to Blackstone
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Summary
Emerson announced it is selling a majority stake in its Climate Technologies business to private equity funds managed by Blackstone. The transaction values the HVAC/R business segment at US$14.0 billion, with Emerson receiving approximately US$9.5 billion in cash and retaining a 45% equity stake in a new joint venture.