ABB Completes Sale of Remaining Stake in Hitachi Energy

ZURICH, Switzerland — 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.