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Johnson Controls To Explore Alternative Options For Its Power Solutions Business

Johnson Controls International plc (JCI) said Monday that it is exploring strategic alternatives for its Power Solutions business.

Johnson Controls expects to complete its assessment of strategic alternatives over the next several months. There can be no assurances as to the form and timing of any transaction as a result of this strategic review, or if a transaction will be consummated, and any final decision remains subject to approval by the Johnson Controls Board of Directors.

The company noted that it has retained Centerview Partners as financial advisors To assist the Company in its review.

Johnson Controls' portfolio includes two leading platforms within their respective industries - an integrated buildings technology and solutions business and a power solutions business that is the clear global leader in providing battery solutions to the automotive sector with an advantaged position in the aftermarket. Both of these platforms are well positioned but are also navigating markedly different industry landscapes with unique strategic, financial and operational opportunities and requirements.

In fiscal 2017, Power Solutions generated $7.3 billion in revenue and $1.6 billion in earnings before interest, taxes, depreciation and amortization or "EBITDA".

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