Carrier to sell Chubb fire and security business to APi Group for $3.1B

Carrier Global Corporation entered into a Stock Purchase Agreement to sell its Chubb fire and security business to APi Group Corporation for $3.1 billion. The transaction is expected to close late in Q4 2021 or early Q1 2022, subject to regulatory approvals and customary closing conditions. The deal includes a put option for Carrier regarding the French portion of the business.

“On July 26, 2021, Carrier Global Corporation (“Carrier”) entered into a Stock Purchase Agreement (the “Purchase Agreement”) with APi Group Corporation (“Purchaser”). Pursuant to the Purchase Agreement, on the terms and subject to the conditions therein, Carrier has agreed to sell, and Purchaser has agreed to acquire, Carrier’s Chubb fire and security business, including its pension and post-retirement plans and all pre-closing liabilities of the business (the “Business”), through the acquisition of Chubb Limited, a UK limited company (the “Company”) for a purchase price of U.S. $3,100,000,000 (the “Purchase Price”).”

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