Johnson Controls to Sell Residential and Light Commercial HVAC Businesses for $8.1B

Fried Frank acted as counsel to Citi and Centerview Partners as financial advisors to Johnson Controls (NYSE: JCI) ("Johnson") in its $8.1 billion sale of its Residential and Light Commercial (R&LC) HVAC business to the Bosch Group ("Bosch"). Johnson is the global leader in smart, healthy, safe and sustainable buildings. Bosch is a leading global supplier of technology and services. The transaction includes the North America Ducted business and global Residential joint venture with Hitachi, Ltd. ("Hitachi"), of which Johnson Controls owns 60% and Hitachi owns 40%.

The Fried Frank team was led by partner Roy Tannenbaum.