# 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.

- Type: Acquisition
- Announced: 2020-05-10
- Where: China
- Value: $14.8M (105.0M CNY)
- Status: announced
- Products: high-voltage direct current transmission equipment
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Sifang Automation](https://endata.com/companies/47143.md)
- [ABB](https://endata.com/companies/1547.md) (acquirer)
- [ABB Sifang Power System](https://endata.com/companies/47144.md) (target)

## Sources

- [yicaiglobal.com](https://www.yicaiglobal.com/news/china-sifang-to-bow-out-from-high-voltage-jv-with-abb-go-it-alone), 2020-05-11: "Sifang will sell its 40 percent stake in the JV to ABB for CNY105 million (USD14.84 million) in September, the firm announced yesterday."

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