Blackstone buys stake in Emerson Electric for $9.9B



11/01/2022 8:49 AM


According to The Wall Street Journal, the investment firm Blackstone has decided to purchase a stake in Emerson Electric, a subsidiary that offers goods and services for heating and cooling in both commercial and residential settings.



The Blackstone Group
The deal is anticipated to get an official announcement within a day.

A 55% interest in the relevant Emerson Electric subsidiary, which the investment company valued at $14 billion, will be purchased by Blackstone as part of the arrangement.

According to the WSJ, Blackstone will spend $9.9 billion on the share acquisition, making it the biggest private equity deal to occur in the American market in recent months.

Blackstone plans to cover $4.4 billion of the cost out of its own resources and the remaining $5.5 billion through the issuance of new loans.

source: wsj.com

 


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