ABB to sell remaining stake in Hitachi Energy to Hitachi

ABB has reached an agreement to divest to Hitachi, Ltd. (Hitachi) 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. The companies have agreed to settle remaining obligations relating to the original transaction, and ABB will continue to provide transition services to Hitachi Energy for them to fully separate from ABB’s systems. ABB does not expect to record any significant gain or loss as a result of the sale. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. For more information on Hitachi, please visit the company's website at www.hitachi.com.