PwC Legal advises Honeywell on spin-off of Resideo Technologies Inc. and Garrett Motion Inc.
Stuttgart/Düsseldorf, 15 February 2019
PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (PwC Legal) provided legal advice to the German entities of US-based Honeywell Group to spin off its Homes product portfolio (home heating, ventilation and air conditioning controls), as well as its Transportation Systems business (a turbocharging business comprising global automobile, truck and other vehicle markets), into two stand-alone, publicly-traded companies, Resideo Technology Inc. (former Homes business) and Garrett Motion Inc. (former Transportation Systems).
Garrett Motion Inc. common stock started regular-way trading on 1 October 2018 on the New York Stock Exchange and Resideo Technology Inc. common stock followed on 29 October 2018. 44 countries of the worldwide PwC Legal network were involved in these spin-offs.
PwC Legal Germany:
Robert Dorr, Dirk Krome (both lead advice, Corporate/International Business Reorganisations, Stuttgart)
Kristina Fliege (Corporate/International Business Reorganisations, Düsseldorf)
as well as Helena Schoch and Karsten Horch (both Corporate/International Business Reorganisations, Stuttgart)
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