Carrier Completes Sale of Riello to Ariston Group
Rhea-AI Summary
Carrier (NYSE:CARR) completed the sale of its Riello business to Ariston Group for gross proceeds of approximately $440 million.
Carrier indicates the divestiture supports disciplined portfolio management and will enhance its ability to invest in core climate and energy solutions, innovation and value creation for customers and shareowners.
Positive
- Completed sale of Riello for approximately $440 million in gross proceeds
- Transaction aligns with Carrier’s disciplined portfolio management strategy
- Proceeds expected to enhance investment in core businesses and innovation
Negative
- None.
News Market Reaction – CARR
In the Jul 1 session, CARR declined 1.75%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 30 | Leadership changes (peer) | Neutral | -0.1% | Xylem announced segment leadership changes, a sector peer governance update. |
| Jun 04 | Dividend declaration | Positive | -2.0% | Carrier’s board declared a $0.24 quarterly cash dividend on common stock. |
| May 26 | Conference appearance | Neutral | -0.6% | Announcement of CEO presentation at Wells Fargo Global Industrials & Materials Conference. |
| May 11 | Conference timing update | Neutral | -0.5% | Updated timing for CEO presentation at Wolfe Research transportation & industrials conference. |
| May 05 | Conference appearance | Neutral | +5.8% | CEO scheduled to speak at Wolfe Research conference, with webcast access for investors. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news has generally seen modest, mixed reactions, with one notable selloff on a dividend announcement and one stronger gain around a conference appearance.
Key Terms
forward-looking statements regulatory
net proceeds financial
forms 10-k, 10-q and 8-k regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
"The sale of Riello reflects Carrier's disciplined portfolio management as we continue to focus our resources on delivering differentiated climate and energy solutions. Sale proceeds enhance our ability to invest in our core businesses, innovation and value creation for our customers and shareowners," said David Gitlin, Chairman & CEO of Carrier. "We are grateful to the Riello team for their many contributions to Carrier and are confident that Ariston Group is well-positioned to drive the business's next phase of growth."
BofA Securities acted as exclusive financial advisor to Carrier, and Linklaters LLP acted as external legal counsel in connection with the transaction.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit www.carrier.com or follow Carrier on social media at @Carrier.
Carrier. For the World We Share.
Cautionary Statement
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for Carrier's future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident," "scenario" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to the sale of Carrier's Riello business, expected uses of the net proceeds therefrom, strategies or transactions of Carrier, Carrier's plans with respect to its indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see Carrier's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Carrier assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
CARR-IR
Contact: | Media Inquiries |
Rob Six | |
561-281-2362 | |
Investor Relations | |
Michael Rednor | |
561-365-2020 | |
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SOURCE Carrier Global Corporation