Hitachi Buying ABB's Power Grids Business in $6.4 Billion Deal

GALWAY, IRELAND--December 28, 2018--Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Leading Swiss engineering company ABB Group (NYSE:ABB) (Zurich, Switzerland) has agreed to sell a majority stake in its power grids division to Hitachi Limited (Tokyo, Japan) for $6.4 billion.

Within this article: Details buyout, affected ABB business units, global reach