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ABB to divest two Shanghai-based electrification JVs to SGEG · Endata

◂ Announcements

Oct 31, 2019ACQUISITIONShanghai, China

ABB to divest two Shanghai-based electrification JVs to SGEG

ABB signed a binding agreement to sell its 60% stake in Shanghai ABB Breakers Co., Ltd. and Shanghai ABB Guangdian Electric Co., Ltd. to joint venture partner Shanghai Guangdian Electric Group (SGEG). Financial details were not disclosed. The sale is expected to close in Q4 2019.

Status

Announced

Productslow- and medium-voltage breakersswitchgeartransformers

CompaniesABB ABB target Shanghai Guangdian Electric Group acquirer

Sectors#Electrical Equipment

“The divestiture will reduce the complexity of the Electrification business in China and improve our focus in this key market.”new.abb.com

3 sources
new.abb.comABB to divest two Shanghai-based Electrification JVs | News centerOct 31, 2019
electricalindustry.caABB to Divest Two Shanghai-Based Electrification JVs - Electrical Industry News WeekGravityStack MarketingNov 7, 2019
powertransformernews.comPower Transformer News - Page 73 of 94 - All the latest news for manufacturers, utilities and industries.Nov 14, 2019

Summarized from public sources; check the original articles before acting on it.

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