Bosch to acquire Johnson Controls residential/light commercial HVAC and JCH JV for $8B

Bosch signed binding agreements to acquire Johnson Controls' global residential and light commercial HVAC business and 100% of the Johnson Controls-Hitachi (JCH) joint venture, including Hitachi's 40% stake, for $8 billion. The deal, the largest in Bosch history, is subject to antitrust approval and expected to close in about 12 months.

“For its Energy and Building Technology business sector, the Bosch Group plans to take over the global HVAC solutions business for residential and light commercial buildings from Johnson Controls. 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). The acquisition is expected to be closed in approximately 12 months.”

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