Carrier Global to sell commercial and residential fire business in $3 bln deal
Adds deal details in paragraphs 3-7
Aug 15 (Reuters) -Carrier Global Corp CARR.N said on Thursday it would sell its commercial and residential fire business to an affiliate of private equity firm Lone Star Funds in a deal valued at $3 billion, pressing ahead with the divestment of non-core assets to focus on its heating and cooling equipment businesses.
The company sold its industrial fire division to Sentinel Capital Partners in March, and its security unit to Honeywell HON.O last year while buying German industrial firm Viessmann's air conditioning division.
Florida-based Carrier Global, which operated three business segments, announced its plan last year to exit from two of them - fire & security and commercial refrigeration businesses - over the course of 2024.
"We now have executed deals on all our divestitures, all signed within about a year of announcement, with a combined value of over $10 billion, representing a mid-teens EBITDA multiple in aggregate," Carrier CEO David Gitlin said in a statement on Thursday.
Carrier said the commercial refrigeration sale is on track to close around the end of the third quarter.
Carrier last month surpassed analysts' estimates for second-quarter profit, benefiting from resilient demand for its heating, ventilating and air conditioning products and aftermarket repair services.
The company's focus on its heating, ventilating and air conditioning business comes as global warming and rising levels of air pollution have led to an increase in demand for air conditioners and air purifiers.
Carrier intends to deploy about $2.2 billion in net proceeds from the transaction towards share repurchases.
The commercial and residential fire segment makes smoke detectors, portable fire extinguishers, fire suppression systems and intruder alarms, among others.
The deal is expected to close by the end of 2024.
Reporting by Kannaki Deka in Bengaluru; Editing by Maju Samuel
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
