ABB to Divest Remaining 19.9% Stake in Hitachi Energy JV to Hitachi
30 Settembre 2022 - 8:57AM
Dow Jones News
By Pierre Bertrand
ABB Ltd said Friday that it has agreed to divest its remaining
19.9% stake in joint venture Hitachi Energy to Hitachi Ltd.
The JV was formed in 2020 between the Swiss technology company's
power grids business and Hitachi. The Japanese electrical equipment
manufacturer holds an 80.1% stake in the venture and has exercised
a call option worth $1.68 billion for the remaining shares, ABB
said.
ABB said it expects a net positive cash inflow of approximately
$1.43 billion as a result of the sale. The transaction is subject
to regulatory approvals and closing is expected in the fourth
quarter of the year.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
September 30, 2022 02:42 ET (06:42 GMT)
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