Emerson to Sell Majority Stake in Climate Technologies to Blackstone in Transaction Valuing the Business at $14.0 Billion

ST. LOUIS and NEW YORK (Oct. 31, 2022) – Emerson (NYSE: EMR) today announced a definitive agreement under which it will sell a majority stake in its Climate Technologies1 business to private equity funds managed by Blackstone (“Blackstone”) in a transaction valuing Climate Technologies at $14.0 billion. Emerson will receive upfront, pre-tax cash proceeds of approximately $9.5 billion while retaining a non-controlling ownership interest in a new standalone joint venture.