Johnson Controls sells power unit to Brookfield in $13.2 bln deal: Reuters

Johnson Controls International Plc said this week it would sell its power solutions business, which makes car batteries, to Canadian investment firm Brookfield Business Partners LP, in a cash deal valued at US$13.2 billion, Reuters reported. Johnson Controls’ power solutions business makes and distributes about 154 million lead-acid batteries for passenger cars and light trucks annually. The transaction, expected to be completed by June 30, 2019, will see Brookfield Business Partners, the listed vehicle of Brookfield's private equity group, partner with Caisse de dépôt et placement du Québec.

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