Brookfield partners with Caisse in $13.2 bln power business deal
The private equity group of Brookfield Asset Management has partnered with Caisse de dépôt et placement du Québec in an agreement to acquire 100 percent of the power solutions unit of Johnson Controls International Plc. Brookfield Business Partners, the group’s listed affiliate, the Caisse and co-investors agreed to pay about US$13.2 billion. The deal is expected to close by June 30, 2019. Johnson Controls’ power solutions unit makes batteries for automakers and aftermarket distributors and retailers for use in a range of vehicles, including hybrid and electrical models. The transaction will be funded with about US$3 billion of equity and about US$10.2 billion of long-term debt financing.
13 November 2018•4 mins read
