ABB is reportedly in discussions with Larsen & Toubro (L&T) to acquire its electrical and automation division. The division that generated revenues of Rs 4,650 crore and operating profit of a little over Rs 700 crore in 2016-17 is expected to be valued at Rs 14,000-18,000 crore.
ABB owns 75% in ABB India, its locally listed arm, and the acquisition will help the Zurich-headquartered firm consolidate its position in the country. The ABB Group has a market capitalisation of $57 billion and revenues of $35.5 billion.
ABB India is a leading global technology company in power and automation that enables utility, industry and transport & infrastructure customers to improve their performance while lowering environmental impact.
