Hitachi to transfer stake in Mitsubishi Hitachi Power Systems to MHI

Hitachi will transfer its entire 35% stake in Mitsubishi Hitachi Power Systems to Mitsubishi Heavy Industries as part of a settlement over a South African power plant project. Hitachi will pay MHI 200 billion yen ($1.8 billion) in March 2020.

“Hitachi will pay MHI a settlement of 200 billion yen ($1.8 billion) in March and transfer to MHI its entire 35% stake in their joint venture Mitsubishi Hitachi Power Systems.”reuters.com

• 6 sources
• reuters.comHitachi, MHI reach settlement over South African projectDec 18, 2019
• powermag.comHitachi Exiting MHPS; MHI Will be Venture’s Sole OwnerSonal C. PatelDec 18, 2019
• sustainable-carbon.orgHitachi Exiting MHPS; MHI Will be Venture’s Sole Owner - ICSCRebecca CameronDec 19, 2019
• diamond.jp三菱重工と日立、火力合弁「円満離婚」装う裏で電力市場争奪戦の火花 | Close-Up Enterprise | ダイヤモンド・オンラインダイヤモンド編集部 千本木啓文: 副編集長Dec 19, 2019
• mhi.com当社子会社との吸収合併契約の締結に関するお知らせ | 三菱重工Dec 25, 2019
• modernpowersystems.com

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