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.