Sifang Automation to sell 40% stake in ABB Sifang JV to ABB

Sifang Automation will sell its 40% stake in the joint venture ABB Sifang Power System to ABB for CNY105 million (USD14.84 million) in September 2020, allowing Sifang to independently enter the high-voltage direct current transmission business.

“Sifang will sell its 40 percent stake in the JV to ABB for CNY105 million (USD14.84 million) in September, the firm announced yesterday.”yicaiglobal.com

• 1 source
• yicaiglobal.comChina’s Sifang to Bow Out From High-Voltage JV With ABB, Go It AloneTang ShihuaMay 11, 2020

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