The Firm is representing Johnson Controls in connection with its definitive agreement to sell its Power Solutions business to Brookfield Business Partners L.P. (NYSE:BBU) (TSX:BBU.UN) and its institutional partners (collectively, “Brookfield”) including Caisse de dépôt et placement du Québec in a cash transaction valued at $13.2 billion. The transaction is expected to close by June 30, 2019, subject to customary closing conditions and required regulatory approvals.
Johnson Controls is a global diversified technology and multi industrial leader serving a wide range of customers in more than 150 countries.
Johnson Controls’ Power Solutions business is a world-leader working in partnership with its customers to meet increasing electrification requirements in vehicles. Its 15,000 Power Solutions employees create, manufacture and distribute the most advanced battery technologies for virtually every type of vehicle.
The Simpson Thacher team includes Alan Klein, Elizabeth Cooper, Jakob Rendtorff, Michael Chao, Jay Bishop-Boros and Tuca Bihari (M&A); Brian Steinhardt (Banking & Finance); Ken Wallach and Ben Heriaud (Capital Markets); Greg Grogan, Ashlie Lawton and Patricia Adams (Executive Compensation and Employee Benefits); Lori Lesser and Alysha Sekhon (Intellectual Property); Andrew Purcell and CJ Murray (Tax); Adeeb Fadil (Environmental); and Sara Razi, Ellen Frye and John Goheen (Antitrust).