India’s Competition Commission (CCI) through an automated route proposed by Bosch Group to offer $8 billion sole management for Johnson Control International (JCI) residential and light commercial heating, ventilation and air conditioning (HVAC) businesses I gave approval.
The transaction also includes Bosch obtaining 100% of Johnson Control’s Hitachi Air Conditioner Holdings (UK) Limited (JCH) joint venture.
The $8 billion megatransaction filed under the Green Channel Route means Bosch’s strategic move to expand its presence in the HVAC sector worldwide.
The agreement includes Bosch, a global technology solutions provider headquartered in Garlingen, Germany, who has taken over JCI’s HVAC business. Bosch operates in multiple sectors, including mobility solutions, industrial technology, consumer goods, energy and building technology.
With this acquisition, Bosch can further enhance its heating, cooling and home comfort solutions under the energy and building technology segment, but Bosch’s Home Comfort currently offers heating and cooling solutions in India. Not provided.
Headquartered in Cork, Ireland, JCI specializes in engineering, manufacturing and contracted building products and systems, including residential and commercial HVAC equipment, industrial refrigeration systems, control, security systems, fire detection, fire and more. It is a multi-industrial company. Restraint solution. Founded in 2015 as a joint venture between JCI and Hitachi Ltd., JCH is headquartered in Tokyo, Japan and specializes in air conditioning and cooling technology.
In accordance with regulatory requirements, this acquisition was informed under section 5(a)(i) of the Competition Act 2002. The parties have notified CCI that the transaction does not lead to horizontal overlap, vertical or complementary relationships. Indian Party.
Given the lack of potential adverse effects on competition in the Indian market, trades were cleared under the green channel route in accordance with section 6(4) of the Competition Act 2002. ) Rules, 2024.
Auto-route approval ensures a rapid regulatory process, allowing Bosch to proceed with the acquisition without further scrutiny. The deal highlights Bosch’s strategic commitment to strengthening its foothold in the global HVAC industry while ensuring compliance with competitive regulations.
