Emerson to Sell Majority Stake in Climate Technologies

On October 31, 2022, Emerson, a global technology and software company, announced a definitive agreement under which it will sell a majority stake in its Climate Technologies business to private equity funds managed by Blackstone, a leading global alternative asset manager, in a transaction valuing Climate Technologies at US$ 14.0 billion. Emerson will receive upfront, pretax cash proceeds of approximately US$ 9.5 billion, while retaining a non-controlling ownership interest in a new standalone joint venture (JV).