Carrier to Sell Beijer Ref Stake to EQT for $1.1 Billion

Carrier Global Corporation announced that its subsidiary has entered into a Share Purchase Agreement to sell its outstanding shares of Beijer Ref AB to a subsidiary of a fund managed by EQT for approximately $1.1 billion. The transaction is expected to close by the end of December 2020, subject to regulatory approval.

“On December 7, 2020, Carrier Refrigeration ECR Holding Luxembourg S.à.r.l. (“Seller”), a subsidiary of Carrier Global Corporation (“Carrier”), entered into a Share Purchase Agreement (the “Purchase Agreement”) with Breeze TopCo S.à r.l. (“Purchaser”), a Luxembourg corporation and a subsidiary of a fund managed by EQT Fund Management S.à r.l. Pursuant to the terms of the Purchase Agreement, Purchaser will acquire all of the outstanding A and B shares of Beijer Ref AB (“Beijer Ref”) currently held by Seller for approximately $1.1 billion.”

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