Tag: sale

ABB sells Power Grids business to Hitachi

ABB is divesting its Power Grids business to Japan’s Hitachi, which will expand existing partnership between the two companies and provide Power Grids with enhanced access to markets and financing, the company said in a press release.

CG Power sells US business to Brazilian company for $37M

India, Mumbai: Mumbai-headquartered CG Power and Industrial Solutions, power and distribution transformer manufacturer and part of Avantha Group, is selling its US business to a Brazilian company WEG at an enterprise value of $37 million.

SPX sells European power generation business

USA, North Carolina: SPX Corporation announced that it has entered into an agreement for the sale of its European power generation business to Mutares AG, a German-based publicly traded industrial holding company. The closing of the transaction is expected to occur by December 31, 2016, SPX announced in a statement.

Liberty House frontrunner to acquire Tata businesses in the UK

United Kingdom: The British media have reported that Liberty House has emerged as a frontrunner to acquire Tata Steel's up for sale businesses in the UK, having tabled substantial cash offers for Tata’s speciality steels and tube pipe businesses.

ABB will not sell Power Grids; Power Up programme announced

While Swedish media recently reported on the activist shareholder Cevian wanting to break up ABB's Power Grids business and sell it in parts to strategic buyers, in today’s (4 October) update of strategic review, ABB leadership has revealed it will continue the transformation of Power Grids under ABB ownership.