The Competition Commission of India (CCI) has approved proposed acquisition of 80.1% stake by Hitachi in the power grid business of ABB. The proposed combination envisages acquisition of 80.1% share capital of ABB Management Holding AG (ABB Management) by Hitachi from ABB. ABB Management will hold the entire power grid business of ABB (Target Business).
The Target Business involves development, engineering, manufacturing and sale of products, systems and projects in the power grids sector.
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.
