Blackstone agreed to acquire the remaining 40% stake in Copeland, a climate technologies manufacturing company, from Emerson, a technology and software company, for $3.5bn. Abu Dhabi Investment Authority and GIC will invest alongside Blackstone as part of the transaction. “This transaction is a key step to simplify our portfolio and enhance Emerson’s focus as a global leader in automation. We believe now is the right time to execute our plans to fully exit the Copeland business. This agreement with Blackstone provides certainty and portfolio simplification to Emerson shareholders, while enhancing our focus on executing in our attractive, high growth automation markets," Lal Karsanbhai, Emerson President and CEO.