Carrier Global to Sell Carrier Commercial Refrigeration to Haier

Paul, Weiss is advising Carrier Global Corporation, a global leader in intelligent climate and energy solutions, in the sale of its commercial refrigeration business to its decades-long joint venture partner Haier for an enterprise value of $775 million, including approximately $200 million of net pension liabilities. The agreement marks another meaningful step forward in Carrier’s portfolio transformation. The deal is expected to close in the second half of 2024, subject to customary closing conditions and regulatory approvals.

The Paul, Weiss team is led by Laura Turano and Dotun Obadina, and includes, among others, corporate partner John Kennedy and counsel Christopher Dickson and Nathan Mitchell; intellectual property partner Claudine Meredith-Goujon and partner-elect Bonnie Chen; tax partners Robert Killip and Robert Holo, and counsel Alyssa Wolpin; litigation partner Joshua Soven; executive compensation partner Jean McLoughlin and counsel Ron Aizen; real estate partner Peter Fisch; environmental counsel William O'Brien; and antitrust counsel Marta Kelly.