Abb to sell remaining stake in hitachi energy to hitachi

Zurich--(business wire)--abb has reached an agreement to divest to hitachi, ltd. (hitachi) its remaining 19.9 percent equity stake in the hitachi energy joint venture that was formed from abb's power grids business in 2020, with hitachi holding a stake of 80.1 percent. hitachi has exercised its call option that was agreed between the parties in december 2018. the call option's exercise value is $1.679 billion. the companies have agreed to settle remaining obligations relating to the original tr
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