Johnson Controls to acquire Air Distribution Technologies from CPPIB

Johnson Controls reached a definitive agreement with the Canada Pension Plan Investment Board to acquire its Air Distribution Technologies business for approximately $1.6 billion, an institutional-investor divestiture of an HVAC equipment maker.

“Johnson Controls announced that it has reached a definitive agreement with the Canada Pension Plan Investment Board to acquire its Air Distribution Technologies business, one of the largest providers of air distribution and ventilation products in North America, for approximately $1.6 billion.”

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