Johnson Controls to sell Power Solutions business to Brookfield for $13.2B

Johnson Controls International plc entered into a Stock and Asset Purchase Agreement to sell its Power Solutions business to BCP Acquisitions LLC, an affiliate of Brookfield Business Partners L.P., for a purchase price of $13.244 billion, subject to adjustments.

“On November 13, 2018, Johnson Controls International plc (the “Company”) entered into a Stock and Asset Purchase Agreement (the “Purchase Agreement”) with BCP Acquisitions LLC, a Delaware limited liability company (“Purchaser”). Purchaser is a newly-formed entity and an affiliate of Brookfield Business Partners L.P. Pursuant to the Purchase Agreement, on the terms and subject to the conditions therein, the Company has agreed to sell, and Purchaser has agreed to acquire, the Company’s Power Solutions business (the “Business”), for a purchase price of U.S.$13,244,000,000 (the “Purchase Price”), which is subject to adjustment, plus the assumption by Purchaser or its affiliates of certain liabilities of the Business specified in the Purchase Agreement.”

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