EQT : Buys 29.6% Stake in Beijer Ref For $1.1 Billion

By Dominic Chopping

STOCKHOLM--Swedish private-equity firm EQT AB said late Monday it had bought a 29.6% stake in Beijer Ref AB from Carrier Global Corp. for $1.1 billion.

Founded in Sweden in 1866, Beijer Ref is a wholesaler of cooling technology and air conditioning. It is headquartered in Malmo and employs 3,700 people.

The transaction is expected to close by the end of December 2020, subject to regulatory approval.

With this transaction, EQT IX is expected to be 20%-25% invested based on its target fund size of 14.75 billion euros ($17.9 billion).

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

12-08-20 0329ET