Bosch, Lennox, Samsung vie for Johnson Controls HVAC assets, sources say (updated)
23/03/2024 24:28
(Adds details paragraphs 2-5)
By David Carnevali
NEW YORK, March 22 (Reuters) - Robert Bosch GmbH, Lennox
International LII.N and Samsung Electronics 005930.KS are
among the suitors competing to acquire heating and ventilation
businesses worth over $6 billion from Johnson Controls
International JCI.N , people familiar with the matter said on
Friday.
Johnson Controls has been working with its advisers to sell
its residential and light commercial businesses, according to
the sources, who requested anonymity as the discussions are
confidential.
Those businesses include a 60% stake in Johnson
Controls–Hitachi Air Conditioning, an air-conditioning joint
venture with Japan's Hitachi Ltd 6501.T , the sources said,
The sources said other bidders could emerge, and any
deal, if one emerges at all, is still months away.
Bosch, Lennox, Samsung, and Johnson Controls did not
immediately respond to requests for comment.
(Reporting by David Carnevali; Editing by Sandra Maler and
Cynthia Osterman)
((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters
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