Johnson Controls to Spin Off Automotive Seating Business as Adient

Johnson Controls International plc is separating its automotive seating and interiors business into a new publicly traded company called Adient plc. The separation will be effected through a distribution of 100% of Adient's ordinary shares to Johnson Controls shareholders.

“relating to the separation of the automotive seating and interiors business (the “Adient Business”) of Johnson Controls International plc (the “Company”) from the rest of the Company (the “separation”) and the issuance of 100% of the ordinary shares of Adient to the Company’s shareholders (the “distribution”).”

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