Reuters: Deals: Watsco to buy 60 percent of Carrier's Canada distribution business

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Watsco to buy 60 percent of Carrier's Canada distribution business Mar 14th 2012, 11:30 Wed Mar 14, 2012 7:30am EDT (Reuters) - Watsco Inc (WSO.N) said it has agreed to acquire 60 percent of Carrier's heating, ventilation and air-conditioning distribution network in Canada. The business will operate as a joint venture under the name Carrier Enterprise Canada. The remaining 40 percent will be held by UTC Climate, Controls & Security -- a unit of United Technologies Corp (UTX.N) and Carrier's parent. The deal is expected to close by the end of April. Financial details of the transaction were not disclosed.

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