Carrier Announces Agreement to Sell Riello to Ariston Group [Yahoo! Finance]
Bank of America Corporation (BAC)
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Source: Yahoo! Finance
solutions, today announced that it has entered into a definitive agreement to sell its Riello business to Ariston Group. "After completing a comprehensive and competitive bidding process, we determined that Ariston Group is the right owner to guide Riello's next phase of growth," said Carrier Chairman & CEO David Gitlin. "Riello has a proud legacy and talented teams, and this agreement reflects our disciplined portfolio management as we continue sharpening our focus on differentiated climate and energy solutions. I am deeply appreciative of our teams' exceptional work throughout this process." "We are honored to welcome Riello into our organization," said Paolo Merloni, Executive Chairman of Ariston Group. "Riello's respected brands, technical expertise and strong positions in its core markets make it highly complementary to Ariston Group. We are committed to building on Riello's legacy and together, creating meaningful value for all stakeholders." Carrier expects gross proceeds
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