Emerson to sell controlling stake in Climate Technologies to Blackstone in deal that values ​​business at $14.0 billion | West Virginia Business News

St. LOUIS AND NEW YORK–(BUSINESS WIRE)–October 31, 2022–

Emerson (NYSE: EMR) today announced that it has entered into a definitive agreement to sell a controlling interest in its Climate Technologies 1 business to private equity funds managed by Blackstone (“Blackstone”), in a transaction that values ​​Climate Technologies at 14, 0 billion dollars. Emerson will receive upfront pre-tax cash proceeds of approximately $9.5 billion while retaining a non-controlling ownership interest in the new standalone joint venture.

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