Johnson Controls International (JCI) is starting a process to sell its ADT alarms business, which could be valued at approximately $2 billion in a deal, Bloomberg News reported Tuesday, citing people familiar with the matter.
Citigroup is helping the company assess interest from potential suitors of the business, the unnamed sources told the news outlet.
Buyout firms such as Advent International, Bain Capital, CVC Capital Partners and Triton are studying the unit, Bloomberg reported, citing the sources.
Representatives for Johnson Controls, Citigroup and the private-equity firms declined to comment, according to Bloomberg.
Johnson Controls, Citigroup, Advent, Bain, CVC and Triton didn't immediately respond to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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