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ABB completed the divestment of its shares in Shanghai ABB Breakers Co Ltd and Shanghai ABB Guangdian Electric Co Ltd to Shanghai Guangdian Electric Group. Financial details were not disclosed.
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.