ABB – ABB completes sale of remaining stake in Hitachi Energy to Hitachi
ABB has completed the previously announced divestment to Hitachi, Ltd. (Hitachi) of its remaining 19.9 percent equity stake in the Hitachi Energy joint venture that was formed from ABB’s Power Grids business in 2020, with Hitachi holding a stake of 80.1 percent.
Hitachi has exercised its call option that was agreed between the parties in December 2018. Through the divestment, ABB has realized a net positive cash inflow of approximately $1.425 billion in the fourth quarter 2022
More information on ABB: See full profile on EMR Executive Services
More information on Björn Rosengren (Chief Executive Office, ABB): See full profile on EMR Executive Services
More information on Timo Ihamuotila (Chief Financial Officer and Member of the Executive Committee, ABB): See the full profile on EMR Executive Services
More information on Hitachi Energy: See the full profile on EMR Executive services
More information on Claudio Facchin (CEO, Hitachi Energy): See the full profile on EMR Executive Services
More information on Ismo Haka, CFO, Hitachi Energy): See the full profile on EMR Executive Services
More information on Hitachi Ltd: https://www.hitachi.com/ + Hitachi Ltd (Hitachi) is a multinational company with operations in sectors such as engineering and electronics, nuclear, transportation and industrial systems. The company manufactures and sells information and telecommunication systems, power systems, social infrastructure and industrial systems, construction machinery, electronic systems and equipment, automotive systems, and smart life and eco-friendly systems.
More information on Toshiaki Higashihara (President & CEO, Hitachi Ltd.): https://www.hitachi.com/corporate/about/directors/index.html