Edition:
United Kingdom

Johnson Controls Announces Agreement To Sell Power Solutions Business For $13.2 Bln


Tuesday, 13 Nov 2018 

Nov 13 (Reuters) - Johnson Controls International PLC ::PRESS RELEASE - JOHNSON CONTROLS ANNOUNCES AGREEMENT TO SELL POWER SOLUTIONS BUSINESS FOR $13.2 BILLION.JOHNSON CONTROLS ANNOUNCES AGREEMENT TO SELL POWER SOLUTIONS BUSINESS FOR $13.2 BILLION.JOHNSON CONTROLS INTERNATIONAL PLC - DEAL FOR TRANSACTION VALUED AT $13.2 BILLION.JOHNSON CONTROLS INTERNATIONAL PLC - NET CASH PROCEEDS ARE EXPECTED TO BE $11.4 BILLION AFTER TAX AND TRANSACTION-RELATED EXPENSES..JOHNSON CONTROLS INTERNATIONAL - EXPECTS TO DEPLOY $3.0 TO $3.5 BILLION OF PROCEEDS TOWARDS DEBT PAYDOWN AND RETAIN AN INVESTMENT GRADE CREDIT RATING.JOHNSON CONTROLS INTERNATIONAL PLC - FROM SALE, REMAINING PROCEEDS WILL BE AVAILABLE TO RETURN TO SHAREHOLDERS.JOHNSON CONTROLS - POWER SOLUTION'S OPERATING RESULTS WILL BE REPORTED IN DISCONTINUED OPERATIONS BEGINNING IN FIRST FISCAL QUARTER OF 2019.