Blackstone, an American alternative investment management company, completed the acquisition of a 60% stake in the Climate Technologies business of Emerson, a technology, software and engineering powerhouse, for $8.4bn. “Today’s announcement is a definitive step in the portfolio journey we embarked on when I became CEO in early 2021. Over the past 18 months, the Emerson team has accelerated our portfolio transformation, divesting non-core businesses including InSinkErator and Therm-O-Disc, while investing in organic growth opportunities and important transactions including AspenTech," Lal Karsanbhai, Emerson President and CEO.