EQT Partners agreed to acquire a 29.6% stake in Beijer Ref, a wholesaler of cooling technology and air conditioning, from Carrier, a global provider of building and cold chain solutions, for $1.1bn. The transaction is expected to close by the end of December 2020, subject to the receipt of a required regulatory approval. "The sale of our stake in Beijer follows our deliberate and consistent approach to capital allocation and portfolio management. We have determined that we can create more value for our shareowners by deploying the net cash proceeds toward our growth initiatives and debt reduction activities than by maintaining a passive interest. We look forward to continuing our longstanding distribution relationship with Beijer," Dave Gitlin, Carrier President & CEO.