Johnson Controls International plc (NYSE:JCI) shares are trading higher after the company agreed to sell its Residential and Light Commercial (R&LC) HVAC business to the Bosch Group. The total transaction is valued at $8.1 billion, with Johnson Controls’ share of around $6.7 billion. The transaction includes $4.6 billion for its North America Ducted business (16.7x fiscal 2023 EBITDA) and $2.1 billion for its stake in the Johnson Controls-Hitachi Air Conditioning joint venture (7.5x fiscal 2023 EBITDA) in which Johnson Controls holds a 60% stake, and Hitachi owns 40%. Johnson Controls is projected to receive net cash proceeds of around $5.0 billion ...