Hitachi buys the remaining shares in ABB Power Grids division
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By Luke Willetts - 18th January 2023
Hitachi Energy chief executive Claudio Facchin, announced the acquisition
Switzerland /Japan - Hitachi Ltd of Tokyo, Japan, has acquired the remaining 19.9 per cent equity stake in the Hitachi Energy joint venture with the power grids business, ABB Ltd of Zurich, Switzerland. This follows an initial agreement of purchase/sale signed on December 17, 2018, for 80.1 percent of the equity to be procured by Hitachi. Through this divestment, ABB has received a cash injection of USD1.4 billion.
