ABB gets $1.4 billion after completing power grids sale to Hitachi

ZURICH - ABB has completed the sale of its remaining 19.9% stake in the power grids business it sold to Hitachi, the Swiss engineering and technology group said on Wednesday.

Hitachi has exercised a call option that was agreed when it bought 80.1% of the business - now called Hitachi Energy - in December 2018.

Through the divestment, ABB has realised a net positive cash inflow of approximately $1.425 billion in the fourth quarter 2022, it said.