ABB India informs about outcome of board meeting

12 Feb 2020 Evaluate

ABB India vide letter dated July 9, 2019 had intimated that the Board of Directors of the Company at their meeting held on the same day provided its in-principle approval for the for sale of Company's Solar Inverter Business and authorised the management of the Company to take all required steps including appointment of advisors, valuers etc., and accordingly the management took required further steps in that regard. In the meeting of the Audit Committee held yesterday, the Valuers appointed by the Company had presented the methodology adopted by them for valuation of the said business and also apprised certain key aspects on the said proposal. In the meeting of Board of Directors held today, the Board took note of the same and sought some more details/ information on the proposal and decided to meet in due course, to take a final decision on the proposal for sale of Company's Solar Inverter Business.

The above information is a part of company’s filings submitted to BSE.

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