Johnson Controls Plans To Divest Global Workplace Solutions Unit - Quick Facts

(RTTNews) - Auto parts supplier Johnson Controls (JCI) intends to divest its Global Workplace Solutions or GWS business. The action reflects the firm's earlier stated intention to invest in businesses that are core to its long-term growth strategy and multi-industrial portfolio.

The GWS business, a provider of facilities, corporate real estate and energy management, has been part of Johnson Controls' portfolio for over 20 years, and currently manages more than 1.8 billion square feet of corporate real estate. It would continue to be a close partner to Johnson Controls as both a supplier and a customer.

Johnson Controls has retained Bank of America Merrill Lynch as exclusive financial advisor to assist in the initiative.