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ABB India gets nod to sell Solar Inverter Business for Rs 100.6 crore

11 Mar 2020 Evaluate

ABB India’s board has approved the proposal to sell company's Solar Inverter Business as a going concern on slump sale basis to a wholly owned Indian Subsidiary of Italian Company, FIMER S.p.A viz, ‘Marici Solar India’ for value of Rs 100.6 crore and on such terms and conditions as contained in the Business Transfer Agreement (BTA) to be executed in due course.

This Business Transfer will be effective April 1, 2020. The Board of Directors of the company at its meeting held on March 09, 2020 has approved the same.

ABB India is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally.

Peers
Company Name CMP
Waaree Energies 2396.50
Apar Industries 18171.00
Havells India 1059.50
Suzlon Energy 38.35
Siemens 3804.45
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