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ABB sold its stake in Hitachi for $1.4 billion
2022.12.28 12:14
ABB sold its stake in Hitachi for $1.4 billion
Budrigannews.com – The remaining 19.9 percent of ABB’s stake in Hitachi’s power grids business has been sold off, on Wednesday, the Swiss engineering and technology group said.
When Hitachi bought 80.1% of the business, which is now called Hitachi Energy, in December 2018, it agreed to exercise a call option.
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According to the company, ABB realized a net positive cash inflow of approximately $1.425 billion during the fourth quarter of 2022 as a result of the divestment.
