Bosch, Lennox, Samsung vie for heating and ventilation assets from Johnson Controls

Founded in 1885, Johnson Controls makes a wide range of appliances and equipment for commercial buildings, as well as home comfort appliances

Johnson Controls acquired Ireland-based peer Tyco International in a $16.5bn deal in 2016. By moving its headquarters to Cork, Johnson Controls carried out a so-called tax-inversion to reduce its overall tax bill.

Robert Bosch, Lennox International, and Samsung Electronics are among the industrial firms competing to acquire heating and ventilation assets worth over $6bn (€5.52bn) from Johnson Controls International, sources said.

Milwaukee-based and Cork-headquartered Johnson Controls has been working with its advisers to sell its residential and light commercial businesses, including a US business and a 60% stake in an air-conditioning venture with Japan's Hitachi called Johnson Controls–Hitachi Air Conditioning, the sources said, requesting anonymity as the discussions are confidential.