ABB completes sale of remaining stake in Hitachi Energy to Hitachi
Switzerland, Zurich: ABB has completed the previously announced divestment to Hitachi, Ltd. (Hitachi) of its remaining 19.9 % equity stake in the Hitachi Energy joint venture.
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Switzerland, Zurich: ABB has completed the previously announced divestment to Hitachi, Ltd. (Hitachi) of its remaining 19.9 % equity stake in the Hitachi Energy joint venture.
The joint venture was formed from ABB’s Power Grids business in 2020, with Hitachi holding a stake of 80.1 %. Hitachi has exercised its call option that was agreed upon between the parties in December 2018. Through the divestment, ABB has realized a net positive cash inflow of approximately $1.425 B in the fourth quarter of 2022.
ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 130 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation.
Source: ABB
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