Blackstone owns the majority of the meteorological technology unit.
According to the Wall Street Journal, U.S. industrial company Emerson (NYSE: EMR) Electric Co is selling the majority stake in its climate technology subsidiary to Blackstone (NYSE: BX) Inc in a deal that values the unit at $ 14 billion. , including Debt.
Citing the executives, the source said the acquisition, which is expected to be disclosed later, would give Blackstone a 55% stake in the division. Emerson would keep 45% of the shares.
The purchase would include $ 4.4 billion in equity contributions from the Blackstone Group and its co-investors, as well as an additional $ 5.5 billion in debt financing, according to the article. Emerson Electric revealed it would sell its Russian assets
Emerson Electric revealed last month that it would sell its Russian assets to the regional management group for an unknown sum.
After announcing an 11 billion dollar merger of its software assets with rival Aspen Technology (NASDAQ: AZPN) Inc last year, the industrial giant recently realigned its operations across all segments and regions. Emerson Electric or Blackstone did not immediately respond to Reuters requests for comment after business hours.