ABB completes sale of remaining stake in Hitachi Energy to Hitachi

ABB has completed the previously announced divestment to Hitachi, Ltd. (Hitachi) of its remaining 19.9 percent equity stake in the Hitachi Energy joint venture that was formed from ABB’s Power Grids business in 2020, with Hitachi holding a stake of 80.1 percent. Through the divestment, ABB has realized a net positive cash inflow of approximately $1.425 billion in the fourth quarter 2022. ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. Building on more than 130 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com