Carrier Global to Sell Global Access Solutions Business to Honeywell in $4.95 Billion Deal

Paul, Weiss is advising Carrier Global Corporation in the all-cash sale of its security business, Global Access Solutions, to Honeywell for an enterprise value of $4.95 billion. The agreement, announced on December 8, represents a successful first step in the transformation of Carrier's portfolio, which will establish it as a pure-play, global leader in intelligent climate and energy solutions. The deal is expected to close in the second half of 2024, subject to regulatory approvals and customary closing conditions.

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