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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Carrier Global Corporation | NYSE:CARR | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 1.97 | 3.17% | 64.06 | 64.27 | 62.78 | 62.95 | 4,583,644 | 21:17:51 |
From Nov 2023 to May 2024
By Ben Glickman
Haier Smart Home will buy Carrier Global's commercial-refrigeration business for total consideration of $640 million.
Chinese household-appliance-maker Haier said it expected the stock-purchase deal to close in the second half of 2024.
Carrier said the deal gave its commercial-refrigeration business an enterprise value of $775 million, including about $200 million of net pension liabilities.
Carrier expects net proceeds of over $500 million, which it plans to use to pay down debt.
The agreement follows an announcement last week that Carrier would sell its security business to Honeywell for nearly $5 billion.
Carrier has been looking to divest certain businesses such as Fire and Security in order to streamline its portfolio.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
December 13, 2023 18:21 ET (23:21 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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