Hitachi plans to sell 40% stake in Johnson Aircon JV, Bloomberg reports

TOKYO : Japan’s Hitachi is pondering selling its 40 per cent stake in an air-conditioning joint enterprise with Johnson Controls International Plc, Bloomberg News reported on Tuesday, citing participants conversant in the topic.

The deal may perchance maybe also price the joint enterprise, Johnson Controls-Hitachi Air Conditioning, at almost 500 billion yen ($3.16 billion), Bloomberg reported citing the sources.

A Hitachi spokesperson said no decision has been made at the moment, adding Hitachi “considers ways to present a boost to its company price.”

Johnson, which owns the different 60 per cent, has been looking out for to sell its heating and ventilation property, including the joint enterprise, for months, in conserving with Bloomberg.

($1 = 158.0800 yen)