Carrier Acquires Remaining Stake In Guangdong Giwee Group

Carrier Global Corp CARR completed the acquisition of the remainder of Guangdong Giwee Group (Giwee Group) and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co., Ltd. The financial terms of the deal were not disclosed.
The company had recently acquired a controlling interest in the Giwee Group via its subsidiary Carrier.
The Giwee Group is a China-based manufacturer of heating, ventilation, and air conditioning products, offering a portfolio of high-quality products such as variable refrigerant flow, modular chiller, and light commercial air conditioning solutions.
Carrier held cash and cash equivalents of $2.63 billion as of June 30, 2021.
Price Action: CARR shares are trading lower by 1.36% at $56.60 on the last check Tuesday.

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