March 14, 2012 / 11:28 AM / 5 years ago

Watsco to buy 60 pct of Carrier's Canada distribution business

March 14 (Reuters) - Watsco Inc 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 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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