# 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.

- Type: Acquisition
- Announced: 2019-10-31
- Where: Shanghai, China
- Status: announced
- Products: low- and medium-voltage breakers, switchgear, transformers
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [ABB](https://endata.com/companies/1547.md)
- [ABB](https://endata.com/companies/1547.md) (target)
- [Shanghai Guangdian Electric Group](https://endata.com/companies/43016.md) (acquirer)

## Sources

- [new.abb.com](https://new.abb.com/news/detail/41051/abb-to-divest-two-shanghai-based-electrification-jvs), 2019-10-31: "The divestiture will reduce the complexity of the Electrification business in China and improve our focus in this key market."
- [electricalindustry.ca](https://electricalindustry.ca/changing-scenes/6163-abb-to-divest-two-shanghai-based-electrification-jvs/), 2019-11-07: "The divestiture will reduce the complexity of the Electrification business in China and improve our focus in this key market."
- [powertransformernews.com](https://www.powertransformernews.com/page/73/), 2019-11-14: "ABB has signed a binding agreement to divest all ABB shares in Shanghai ABB Breakers Co., Ltd. and Shanghai ABB Guangdian Electric Co., Ltd. to Shanghai Guangdian Electric Group (SGEG)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.