Carrier Receives European Commission Approval to Complete Acquisition of Viessmann Climate Solutions

Rhea-AI Summary

Carrier Global Corporation (CARR) has received approval from the European Commission to proceed with its proposed acquisition of Viessmann Climate Solutions, with the transaction expected to close on January 2, 2024. This acquisition will provide Carrier with a comprehensive and differentiated suite of sustainable climate technologies and services in the industry's fastest growing segments and geographies.

Approval marks final transaction regulatory clearance; closing expected January 2, 2024

PALM BEACH GARDENS, Fla., Dec. 18, 2023 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, announced today that it has received approval from the European Commission to proceed with its proposed acquisition of Viessmann Climate Solutions. This marks the final regulatory clearance required, with Carrier on track to close the transaction on January 2, 2024, subject only to conditions to be satisfied on the closing date.

"We are pleased to have secured clearance from the European Commission for our planned transaction with Viessmann Climate Solutions," said Carrier Chairman & CEO David Gitlin. "This combination will be highly impactful, with the most comprehensive and differentiated suite of sustainable climate technologies and services in our industry's fastest growing segments and geographies. We look forward to welcoming Viessmann Climate Solutions in the new year."

About Carrier 
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating solutions that matter for people and our planet for generations to come. From the beginning, we've led in inventing new technologies and entirely new industries. Today, we continue to lead because we have a world-class, diverse workforce that puts the customer at the center of everything we do. For more information, visit corporate.carrier.com or follow Carrier on social media at @Carrier.

Cautionary Statement
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for Carrier's future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident," "scenario" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to future acquisitions, future sales, earnings, cash flow, results of operations, uses of cash, share repurchases, tax rates and other measures of financial performance or potential future plans, strategies or transactions of Carrier, Carrier's plans with respect to its indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see Carrier's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Carrier assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

CARR-IR                            

Contact:	Investor Relations
	Sam Pearlstein
	561-365-2251
	Sam.Pearlstein@Carrier.com
	Media Inquiries
	Ashley Barrie
	860-416-3657
	Ashley.Barrie@Carrier.com

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SOURCE Carrier Global Corporation

FAQ

When is Carrier Global Corporation (CARR) expected to close the acquisition of Viessmann Climate Solutions?

The transaction is expected to close on January 2, 2024.

What regulatory approval did Carrier Global Corporation (CARR) receive for the acquisition?

Carrier received approval from the European Commission to proceed with the proposed acquisition.

What impact is the acquisition expected to have on Carrier Global Corporation (CARR)?

The acquisition will provide Carrier with the most comprehensive and differentiated suite of sustainable climate technologies and services in the industry's fastest growing segments and geographies.

Who is the Chairman & CEO of Carrier Global Corporation (CARR)?

David Gitlin is the Chairman & CEO of Carrier Global Corporation.