Robert Bosch GmbH Acquires Majority Stake in Johnson Controls-Hitachi Air Conditioning India Ltd

Robert Bosch GmbH ('Bosch') has acquired a majority stake in Johnson Controls-Hitachi Air Conditioning India Ltd ('JCHAC') through a series of purchase agreements. Bosch has acquired 100% of the issued and paid-up share capital of Johnson Controls-Hitachi Air Conditioning Holding (UK) Ltd, which in turn holds 100% of the issued and paid-up share capital of JCHAC India HoldCo Limited, which further holds 100% of the issued and paid-up share capital of JCHAC India. This acquisition has resulted in a change in control and an indirect acquisition of 74.25% of the total equity share capital of JCHAC India on a fully diluted basis. Bosch has issued a public announcement for an open offer to acquire up to 25.75% of the total equity share capital of JCHAC India.