Hitachi to Acquire ABB Ltd's (ABB) Power Grids Business at $11B Valuation
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Hitachi to Strengthen Energy Solutions Business with the Acquisition of ABB's Power Grids Business
December 17, 2018 9:22 PM ESTTOKYO, Dec 18, 2018 - (JCN Newswire) - - Hitachi, Ltd. (TSE: 6501) has decided to acquire the world-leading power grids business from ABB Ltd (NYSE: ABB) and has signed an agreement with ABB. Hitachi plans to initially acquire an 80.1% stake in the power grids business and expects to close the acquisition in the first half of 2020, making power grids a consolidated subsidiary. Hitachi has entered into a purchase option to acquire the remaining 19.9% stake in Power Grids, making Power Grids a wholly-owned subsidiary.
As a result of this agreement, Hitachi will... More
