ST.
LOUIS and NEW YORK,
Aug. 13,
2024 /PRNewswire/ -- Emerson (NYSE: EMR) announced
today that it has completed the sale of its remaining interest in
the Copeland joint venture, the 40% common equity ownership stake,
to private equity funds managed by Blackstone ("Blackstone").
As a standalone company focused on serving the global HVAC and
refrigeration market, Copeland's product portfolio includes
market-leading compressors, controls, thermostats, valves, software
and monitoring solutions for residential, commercial and industrial
customers.
About Emerson
Emerson (NYSE: EMR) is a global
technology and software company providing innovative solutions for
the world's essential industries. Through its leading automation
portfolio, including its majority stake in AspenTech, Emerson helps
hybrid, process and discrete manufacturers optimize operations,
protect personnel, reduce emissions and achieve their
sustainability goals. For more information,
visit Emerson.com.
About Blackstone
Blackstone is the world's largest
alternative asset manager. We seek to deliver compelling returns
for institutional and individual investors by strengthening the
companies in which we invest. Our more than $1 trillion in assets under management include
global investment strategies focused on real estate, private
equity, infrastructure, life sciences, growth equity, credit, real
assets, secondaries and hedge funds. Further information is
available at www.blackstone.com. Follow @blackstone
on LinkedIn, X (Twitter), and Instagram.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly
historical may be "forward-looking" statements, which involve risks
and uncertainties, and Emerson undertakes no obligation to update
any such statements to reflect later developments. These risks and
uncertainties include the scope, duration and ultimate impacts of
the Russia-Ukraine and other global conflicts, as well as
economic and currency conditions, market demand, pricing,
protection of intellectual property, cybersecurity, tariffs,
competitive and technological factors, inflation, among others, as
set forth in the Company's most recent Annual Report on Form 10-K
and subsequent reports filed with the SEC. The outlook contained
herein represents the Company's expectation for its consolidated
results, other than as noted herein.
Emerson uses our Investor Relations
website, www.Emerson.com/investors, as a means of disclosing
information which may be of interest or material to our investors
and for complying with disclosure obligations under Regulation FD.
Accordingly, investors should monitor our Investor Relations
website, in addition to following our press releases, SEC filings,
public conference calls, webcasts and social media. The information
contained on, or that may be accessed through, our website is not
incorporated by reference into, and is not a part of, this
document.
Contacts
For Emerson:
Investors:
Colleen
Mettler
(314) 553-2197
Media:
Joseph Sala /
Greg Klassen
Joele Frank, Wilkinson Brimmer
Katcher
(212) 355-4449
For Blackstone:
Matt Anderson
Matthew.Anderson@blackstone.com
(212) 390-2472
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SOURCE Emerson
