Bosch to acquire Johnson Controls/Hitachi residential & light-commercial HVAC for $8 billion

Bosch signed binding agreements to acquire Johnson Controls' global residential and light-commercial HVAC business plus 100% of the Johnson Controls-Hitachi JV (including Hitachi's 40% stake) for $8 billion, subject to antitrust approval, expected to close in ~12 months.

“As part of this transaction, Bosch also intends to acquire 100 percent of the Johnson Controls-Hitachi Air Conditioning (JCH) joint venture, including Hitachi’s 40 percent stake. The Bosch shareholders and supervisory board have approved the transaction. Binding agreements on the acquisitions were signed by the parties involved today. The acquisition is subject to approvals from the antitrust authorities. The purchase price for the acquired businesses is 8 billion dollars (7.4 billion euros).”

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