Manufacturers

ABB Shareholders Approve Accelleron Spin-Off

ABB Shareholders Approve Accelleron Spin-Off
Handshake on a historic day for ABB and Accelleron: ABB Chairman Peter Voser (in the middle), ABB CEO Björn Rosengren (on the right) and Oliver Riemenschneider, Chairman of Accelleron.

ZURICH, Switzerland — The shareholders of ABB approved the proposed spin-off of its Accelleron turbocharging division at yesterday’s Extraordinary General Shareholders Meeting of ABB Ltd held in Zurich. The Board of Directors’ proposal to spin off ABB’s market-leading turbocharging business by way of a dividend in kind of Accelleron Industries Ltd’s shares to ABB’s shareholders was supported with 99.72 percent of the votes. ABB will distribute to its shareholders, on a pro rata basis, as a dividend in kind, 1 Accelleron share for 20 ABB Ltd shares held. Shareholders representing 62.3 percent of the total share capital with a right to vote took part in the meeting.

Accelleron’s listing on SIX Swiss Exchange in Zurich is planned for October 3, 2022. ABB plans to publish Accelleron’s listing prospectus on September 23, 2022.

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