Bosch leads bid for JCI-Hitachi JV
22nd July 2024
JAPAN: German company Robert Bosch is reported to be the leading candidate to acquire the Johnson Controls-Hitachi domestic air conditioning joint venture.
According to Bloomberg, Hitachi and US manufacturer Johnson Controls are in the final stages of negotiations to sell the joint venture to Robert Bosch in a deal that could be worth more than JPY500bn ($3.2bn).
It is expected that Hitachi will continue its commercial air conditioning business but will withdraw from manufacturing residential air conditioners
In January, it was revealed that Johnson Controls was considering divesting its 60% stake in the global air conditioning joint venture as part of a sale of its HVAC businesses. Last month, Bloomberg revealed that Hitachi was also looking to sell. In addition to Bosch, Lennox and Samsung were also named among the suitors.
Related stories:
Hitachi looking to sell AC joint venture – 18 June 2024
JAPAN: Hitachi is looking to sell its 40% stake in the Johnson Controls-Hitachi Air Conditioning joint venture, with Bosch, Lennox and Samsung among the suitors. Read more…
Johnson Controls’ HVAC sale attracts interest – 23 March 2024
IRELAND: Robert Bosch, Lennox International and Samsung Electronics are rumoured to be amongst a number of industrial businesses interested in acquiring Johnson Controls’ HVAC assets. Read more…
Johnson Controls to sell HVAC businesses? – 27 January 2024
IRELAND: Johnson Controls is rumoured to be exploring the sale of its HVAC businesses, which could include York International, Air Distribution Technologies and its stake in its Hitachi joint venture. Read more…
Johnson Controls takes 60% of Hitachi ac – December 3, 2013
USA and JAPAN: Johnson Controls is to take a 60% stake in Hitachi Appliances’ global air conditioning business. Read more…
