Emerson said it entered into a Unit Purchase Agreement on June 6, 2024 under which BCP Emerald will acquire the 40% common equity interest in Copeland held by Emerson through the Sellers, reducing Emerson's equity interest in Copeland to 0 and giving Emerson $1.5 billion in cash proceeds at closing.

1. 01

   Emerson said it entered into a Unit Purchase Agreement on June 6, 2024 under which BCP Emerald will acquire the 40% common equity interest in Copeland held by Emerson through the Sellers, reducing Emerson's equity interest in Copeland to 0 and giving Emerson $1.5 billion in cash proceeds at closing.

2. 02

   Under the Note Purchase Agreement, Emerson said Issuer will repurchase 2 senior unsecured notes it issued to EMR Holdings on May 31, 2023 at closing, and Emerson will receive $1.9 billion in cash proceeds.

3. 03

   The company said the closings of the two agreements are not required to occur simultaneously and are subject to the satisfaction or waiver of customary conditions, including receipt of applicable regulatory approvals. Either party may terminate one or both agreements if the closings have not been completed by December 31, 2024.

4. 04

   Emerson said it entered into the Note Purchase Agreement with EMR Holdings, Copeland (Emerald JV Holdings L.P.) and EMRLD Seller Notes Issuer LP, and the Unit Purchase Agreement with its subsidiary Sellers, BCP Emerald, which is formed by investment funds managed by affiliates of Blackstone Inc., and other parties.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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