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Investing.com - Johnson Controls International Plc (NYSE:JCI) is considering options including a potential sale of two businesses in its security division that together could be worth up to $4.5 billion, according to reporting from Bloomberg, citing people familiar with the situation.
The company is working with financial advisers to solicit interest for its Access Control and Intrusion Detection units, the people said. Johnson Controls will attempt to sell them separately but could offload them to a single buyer, the people added.
Deliberations are at an early stage and the company could decide to retain one or both units, the people said. The potential divestitures would mark the company’s first portfolio shake-up since Joakim Weidemanis became chief executive officer last year.
Johnson Controls stock rose 1.6% in after-hours trading following the news, though shares closed 3.4% down during trading hours. Last year, the company completed the sale of its residential and light commercial HVAC business to German rival Robert Bosch GmbH in a deal worth about $8 billion.
Johnson Controls offers air systems, building management, HVAC controls, security and fire safety solutions, among other products.
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