Big Law

Emerson Selling Stake in Climate Technologies for $14 Billion

Emerson is selling a majority stake in its climate technologies business to Blackstone in a deal valued at $14 billion including debt.

The standalone climate technologies unit includes the Copeland compressor business and the entire portfolio of products and services across all HVAC and refrigeration end-markets. The division serves both commercial and residential clients and in its last fiscal year booked $5 billion in sales.

Emerson, based in St. Louis, has sought to refashion itself into a pure-play global automation company, while Blackstone sees an opportunity for growth as businesses and households seek out more energy efficiency through new technologies.

Read the source article at apnews.com

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