secwatch.observer — SEC 8-K summary
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Issuer:     Johnson Controls International plc (JCI)
CIK:        0000833444
Form:       8-K
Filed at:   2024-07-23T23:59:59+00:00
Accession:  0000833444-24-000044
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Johnson Controls sells Residential & Light Commercial HVAC business to Bosch for $8.1B
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- Transaction valued at $8.1B total; JCI to receive ~$6.7B in cash. Net proceeds ~$5B after tax and expenses.
- Deal includes North America Ducted (16.7x FY23 EBITDA) and JCI's 60% stake in JCI-Hitachi JV (7.5x EBITDA).
- Expected to close in ~12 months; results to be reported in discontinued ops from Q4 FY2024.
- JCI will use proceeds to pay down debt to maintain investment grade, remainder to shareholders.
- Preliminary Q3 FY2024 adjusted EPS slightly ahead of prior guidance range; full earnings on July 31.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/833444/000083344424000044/0000833444-24-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/833444/000083344424000044/jci-20240723.htm
  HTML page:      https://secwatch.observer/filing/0000833444-24-000044

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