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Carrier Global to Sell Chubb Fire and Security Unit in $3.1 Billion Deal
- Client News
- July 27, 2021
Paul, Weiss is advising Carrier Global Corporation, the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, in the sale of its Chubb fire and security business to APi Group Corporation for an enterprise value of $3.1 billion. The sale will enable Carrier to focus on its core businesses and to re-allocate net proceeds consistent with its stated capital allocation priorities. The transaction is expected to close late in the fourth quarter of 2021 or early in the first quarter of 2022, subject to a consultation process and regulatory approvals.
The Paul, Weiss team includes corporate partners Laura Turano, Scott Barshay and Caith Kushner and counsel Cristina Amodeo; tax partners Jeffrey Samuels and Robert Holo and counsel Alyssa Wolpin; executive compensation partner Jean McLoughlin and counsel Nicole Tark; intellectual property partner Claudine Meredith-Goujon; litigation partners Lewis Clayton, Jaren Janghorbani and Audra Soloway and counsel Peter Jaffe, Steven Herzog and Rachel Fiorill; real estate partner Peter Fisch; and environmental counsel William O’Brien.