Emerson to Sell Copeland JV in $3.5 Billion Deal With Blackstone

Emerson, a technology and software provider, said it reached an agreement to sell its stake in the Copeland joint venture in a deal valued at about $3.5 billion.

Private equity funds managed by Blackstone will purchase 40% equity ownership in the venture, and Copeland will repurchase the seller’s note, according to a statement from the company Thursday. A wholly owned subsidiary of the Abu Dhabi Investment Authority and GIC will invest alongside Blackstone as part of the transaction

Emerson said the transaction will help it to simplify its business, while Blackstone said that Copeland “is helping lead the transition ...