Benzinga | Sep 7, 2021 11:43AM EDT

Carrier Acquires Remaining Stake In Guangdong Giwee Group

* Carrier Global Corp (NYSE:CARR) completed the acquisition of the remainder of Guangdong Giwee Group (Giwee Group) and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co., Ltd. The financial terms of the deal were not disclosed.

* The company had recently acquired a controlling interest in the Giwee Group via its subsidiary Carrier.

* The Giwee Group is a China-based manufacturer of heating, ventilation, and air conditioning products, offering a portfolio of high-quality products such as variable refrigerant flow, modular chiller, and light commercial air conditioning solutions.

* Carrier held cash and cash equivalents of $2.63 billion as of June 30, 2021.

* Price Action: CARR shares are trading lower by 1.36% at $56.60 on the last check Tuesday.