Batteries are used in about a third of cars globally
MONTREAL — Brookfield Business Partners LP and the Caisse de depot et placement du Quebec, together with a group of institutional partners, have signed a deal to buy Johnson Controls’ power solutions business for US$13.2 billion in one of the biggest leveraged buyouts this year.
The business produces batteries for automakers and aftermarket distributors and retailers.
The companies say it is well positioned to benefit from the growth in demand for advanced batteries, including those used in electric vehicles.
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