Johnson Controls: disposal of energy solutions
(CercleFinance.com) - Johnson Controls has announced an agreement to sell its energy solutions business to Brookfield Business Partners and institutional partners, including the Caisse de Dépôt et Placement du Québec, for 13.
2 billion dollars in cash.
After tax and costs related to the transaction, it will generate net revenues of 11.4 billion dollars for the industrial group, of which 3 billion to 3.5 billion dollars will be used to reduce the group's debt and maintain its credit rating in the "investment" category.
The transaction, which marks a significant milestone in the ongoing transformation of the group's portfolio, CEO George Oliver says, is expected to be closed by 30 June 2019, subject to the usual necessary regulatory conditions and approvals.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2 billion dollars in cash.
After tax and costs related to the transaction, it will generate net revenues of 11.4 billion dollars for the industrial group, of which 3 billion to 3.5 billion dollars will be used to reduce the group's debt and maintain its credit rating in the "investment" category.
The transaction, which marks a significant milestone in the ongoing transformation of the group's portfolio, CEO George Oliver says, is expected to be closed by 30 June 2019, subject to the usual necessary regulatory conditions and approvals.
Copyright (c) 2018 CercleFinance.com. All rights reserved.