ABB to sell Power Grids to Hitachi, revamp business structure

ABB Ltd. is nearing an agreement to sell about 80 percent of its power-grids unit to Hitachi Ltd. in a deal that would value the entire business at about $11 billion, according to people familiar with the matter......»»

ABB will sell a majority stake in its Power Grids division to Japan's Hitachi and return the proceeds to shareholders, bowing to pressure from an activist investor to sell the business that makes transformers and converters......»»

The divestment of ABB's Power Grids business will enable it to focus m.....»»

ABB will sell 80.1 percent of its Power Grids division to Japan's Hitachi , the Swiss engineering group said on Monday, adding it would return net cash proceeds of $7.6-7.8 billion from the deal to shareholders......»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

ABB will sell a majority stake in its Power Grids division to Japan's Hitachi and return the proceeds to shareholders, bowing to p.....»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

U.S. power company Sempra Energy is near an agreement to sell its Chilean business to State Grid Corporation of China for close to $3 billion, the latest deal in its bid to shed non-core assets, people familiar with the matter said on Friday......»»

Reuters Business Insider is mapping out the power structure in the global banking and markets businesses overseen by Bank of America Merrill Lynch Chief Operating Officer Tom Montag — one of the most powerful exe.....»»

Novartis Chief Executive Vas Narasimhan pledged in an interview published on Saturday not to sell the Swiss drugmaker's generics unit Sandoz amid a revamp that has prompted speculation he is preparing to offload the business......»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

REUTERS:Hannibal Hanschke.JPG Google-parent company Alphabet dominates businesses from search to online ads. The company has more than 103,000 employees working on high-profile initiatives and secret projects. Business Insider Pri.....»»

China-based GCL New Energy will sell 70% of its ownership of 19 PV power stations totalling 977MWp in China at CNY2.062 billion (US$299 million) to improve its financial structure, according to media reports......»»

Nestle has entered exclusive talks to sell its skin health business to a consortium led by EQT Partners for 10.2 billion Swiss francs ($10.12 billion), as the food group shifts its portfolio in response to changing consumer demands......»»

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Wells Fargo & Co. is expected to announce a restructuring of its wealth management business, according to people familiar with the matter, as it grapples with government investigations tied to client referrals and other related matters......»»

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General Electric Co. said Mon.....»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»