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
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
