CARR

Carrier to sell industrial fire business in $1.43 bln deal

Credit: REUTERS/Kacper Pempel

Adds background, details on deal in paragraphs 2, 3, 4

March 5 (Reuters) - Carrier CARR.N said on Tuesday it would sell its Industrial Fire division to Sentinel Capital Partners in a $1.43 billion deal, as it looks to focus on its mainstay heating and cooling equipment businesses.

The Florida-based company last year bought German industrial firm Viessmann's air conditioning division and sold its Global Access Solution business to Honeywell HON.O.

Carrier expects net proceeds from the transaction to exceed $1.1 billion and intends to use the proceeds to pay down debt.

The deal is expected to close in the third quarter.

(Reporting by Abhinav Parmar and Kannaki Deka; Editing by Shilpi Majumdar and Sriraj Kalluvila)

((Abhinav.Parmar@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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