Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Hitachi Global Life Solutions, Inc. (‘Hitachi’) on the sale of its 40 per cent stake in Johnson Controls-Hitachi Air Conditioning Holding (UK) Ltd. (‘JCH’), a joint venture between Hitachi and Johnson Controls International plc (‘JCI’), to Robert Bosch GmbH (‘Bosch’).
JCH’s ductless heating, ventilation, and air conditioning (‘HVAC’) business is valued at approximately US$3.5bn; Bosch will pay approximately US$1.4bn for Hitachi’s 40 per cent stake in JCH. Hitachi will simultaneously acquire a key portion of JCH’s current business in Japan.
The transactions will occur in conjunction with JCI’s parallel sale of its ducted HVAC business to Bosch for an additional approximately US$4.5bn. The three interlinked and complex transactions raised significant structuring and sequencing issues, and required detailed negotiations on post-closing licensing and commercial arrangements.
Freshfields acted as both international and Japanese counsel to Hitachi, with close collaboration among our client and our Japanese and US teams to ensure the success of these highly strategic transactions.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press releaseThe advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
