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
Source
ABB
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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
