Emerson to Sell off Remaining Stake in Copeland Joint Venture

On June 6, Emerson announced that it had reached a definitive agreement with Blackstone Private Equity to sell its remaining interests in the Copeland joint venture (JV) that was formerly named Emerson Climate Technologies. In the deal, Blackstone-managed private equity funds will purchase the 40% common equity ownership held by Emerson in the JV. The value of the sale is estimated at about US$ 3.5 billion.