Competition Commission of India Approves Bosch Acquisition of JCI’s HVAC Business
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India: Bosch Group has received approval from the Competition Commission of India (CCI) under the Green Channel route for its USD 8 billion acquisition of sole control over Johnson Controls International’s (JCI) residential and light commercial HVAC business. JCI, headquartered in Ireland, specializes in building products and HVAC systems, while JCH, a joint venture between JCI and Hitachi, focuses on air conditioning and cooling technology. The transaction also includes Bosch acquiring 100% of the Johnson Controls-Hitachi Air Conditioning Holding (UK) Limited (JCH) joint venture, including Hitachi’s 40% stake.
Source: Business line