Johnson Controls Completes Sale of Residential & Light Commercial HVAC Business to Bosch

Johnson Controls funded its $5.0 billion accelerated share repurchase using proceeds from the recent sale of its residential and light commercial HVAC business to Robert Bosch GmbH. This divestiture represents a major reshaping of the company's portfolio, exiting a core HVAC segment.

“The Company funded the Repurchase Price with a portion of the net proceeds received from its recent sale of its residential and light commercial HVAC business to Robert Bosch GmbH pursuant to a Stock and Asset Purchase Agreement.”

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