(CercleFinance.com) – ABB has completed the sale of its Power Conversion division to AcBel Polytech with an enterprise value of $505 million.
ABB expects to record a small non-operating book gain in operating income on sale in the third quarter of 2023.
With this transaction, ABB has completed all divisional portfolio divestments announced at the end of 2020.
The Power Conversion division generated revenues of approximately $440 million and operating results of approximately $50 million in 2022.
Copyright © 2023 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
