© Reuters. The logo of Hitachi ABB is seen at an office building in Zurich, Switzerland September 10, 2020. REUTERS/Arnd Wiegmann/File Photo
ZURICH (Reuters) – ABB has completed the sale of its remaining 19.9% stake in the power grids business it sold to Hitachi (OTC:), 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.
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