# Emerson sells remaining 40% stake in Copeland JV to Blackstone for $3.5B

Emerson announced it has entered into a definitive agreement to sell its remaining 40% common equity ownership in the Copeland joint venture to private equity funds managed by Blackstone for a transaction value of approximately $3.5 billion. The deal is expected to close in the second half of 2024.

- Type: Acquisition
- Announced: 2024-06-06
- Where: United States
- Value: $3.50B
- Status: announced
- Products: heating and cooling solutions
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Emerson](https://endata.com/companies/355.md)
- [Blackstone Group](https://endata.com/companies/2364.md) (acquirer)
- [Abu Dhabi Investment Authority](https://endata.com/companies/5100.md) (investor)
- [GIC](https://endata.com/companies/7738.md) (investor)
- [Copeland](https://endata.com/companies/8190.md) (target)
- [Blackstone Private Equity](https://endata.com/companies/27338.md) (acquirer)

## Sources

- [blackstone.com](https://www.blackstone.com/news/press/emerson-announces-sale-of-remaining-interests-in-copeland-to-blackstone/), 2024-06-06: "Emerson announced today that it has entered into a definitive agreement to sell its remaining interests in the Copeland joint venture for a transaction value of approximately $3.5 billion."
- [coolingpost.com](https://www.coolingpost.com/world-news/emerson-to-sell-remaining-stake-in-copeland/), 2024-06-11: "Emerson is to sell its remaining 40% interest in the Copeland joint venture (formerly Emerson Climate Technologies) to Blackstone for a transaction value of approximately $3.5bn."
- [achrnews.com](https://www.achrnews.com/articles/topic/2724-newsline?page=11), 2024-06-13: "Private equity funds managed by Blackstone Private Equity will purchase Emerson’s 40% common equity ownership in the joint venture."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.