ABB Plans $495 Million Mitsubishi Electric Venture and Sales Deal
Photo: TokenPost
ABB plans to pay about $495 million for a majority stake in a power distribution venture with Mitsubishi Electric and full ownership of related sales operations outside Japan. The planned payment covers a 51% stake in the new company as well as the sales operations. ABB announced the deal Oct. 20. Mitsubishi Electric is carving out its low-voltage power distribution business to form the venture. The venture is aimed at Asian demand for low-voltage power distribution equipment. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.
Source: TokenPost
