# Hitachi completes acquisition of 80% stake in ABB Power Grids

Hitachi completed the acquisition of an 80% stake in ABB's Power Grids business, forming Hitachi ABB Power Grids. The joint venture, valued at about $10 billion, started operations on July 1, 2020, with ABB retaining a minority stake.

- Type: Acquisition
- Announced: 2020-07-01
- Where: Zurich, Switzerland
- Value: $10.0B
- Jobs: 36,000
- Status: completed
- Products: power grids, transformers, high-voltage products, automation
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md), [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Hitachi](https://endata.com/companies/1325.md) (acquirer)
- [ABB](https://endata.com/companies/1547.md) (target)

## Sources

- [yle.fi](https://yle.fi/a/3-11427911), 2020-07-01: "Tämä on saman kokoluokan muutos, mitä aikanaan oli Strömbergin myynti ensin Asealle ja sitten ABB:n syntyminen."
- [banker.bg](https://banker.bg/2020/07/03/hitachi-stava-sobstvenik-na-zavoda-na-abb-v-sevlievo/), 2020-07-02: "Двете компании ще направят съвместно енергийно предприятие – Hitachi ABB Power Grids."

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