Carrier Completes Sale of its Commercial Refrigeration Business to Haier For USD 775M
USA: Carrier Global Corporation has completed the sale of its commercial refrigeration business to its long-time partner, Haier, for an enterprise value of USD 775 million, which includes around USD 200 million in net pension liabilities. This divestiture, along with previous sales of its Industrial Fire and Global Access Solutions units and the announced sale of its Commercial and Residential Fire segment, allows Carrier to concentrate on its core businesses as it progresses in its portfolio transformation.
Notably, Carrier Transicold transport refrigeration, Sensitech, and the Lynx digital ecosystem are not part of this transaction and remain central to the company's vision. The net proceeds from the sale will be used to reduce debt. BofA Securities served as the financial advisor, while Paul, Weiss, Rifkind, Wharton & Garrison LLP and Linklaters LLP acted as external legal counsel.
Source: Carrier