https://www.oann.com/business/abb-gets-1-4-billion/?utm_source=rss&utm_medium=rss&utm_campaign=abb-gets-1-4-billion

ZURICH (Reuters) – 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.

(Reporting by John Revill; Editing by Kirsten Donovan)

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