ABB to Buy 51% Stake in Mitsubishi Venture for $495M
9 Articles
9 Articles
ABB reported that it is investing about $495 million to acquire a controlling stake in the newly separated low voltage power distribution division of Japanese Mitsubishi Electric. Exclusive material for subscribers. To have full access, access the material link and register.
The joint venture will focus on low voltage offers for markets in Asia and the transaction is expected to close in the second half of 2027.
Swedish-Swiss ABB is forming a joint venture with Japanese Mitsubishi Electric's spin-off business for low-voltage distribution products, ABB writes in a press release.
Mitsubishi Electric, a major integrated electrical equipment manufacturer, will transfer its power distribution and control equipment business to a new company, and then transfer 51% of the new company's shares to ABB Ltd., the Japanese subsidiary of Swiss power and automation giant ABB Ltd., switching to joint operation with ABB. The aim is to enhance products and services and strengthen global expansion by combining the technological capabilit…
The Swiss electrical engineering company continues to grow rapidly. Above all, the boom in data centers is causing tailwind. A joint venture with Japanese Mitsubishi Electric is to further boost the business.
Coverage Details
Bias Distribution
- 100% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
