Carrier Acquires Remaining Stake In Guangdong Giwee Group

September 7, 2021 11:43 AM | 1 min read |

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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