Hitachi strengthens global network
Japan’s Hitachi Limited 80.1% share capital acquisition of ABB Management Holding AG (ABB Management) has been approved by the Competition Commission of India (CCI).
CCI approved Hitachi’s acquisition of ABB power grid business on 7 Apr 2020 through video conferencing.
The deal was first initiated in Dec 2018 and is expected to be completed in the first half of 2020. In Dec 2018, the acquisition was priced at JPY714 billion
With the acquisition of ABB power grids, Hitachi will offer innovative energy solutions business globally, combing ABB’s grid solutions and products with its own digital technology.
Hitachi said it also aims to expand in railways, electric vehicles, smart-city, buildings, manufacturing facilities and plants and provide innovative energy solutions.
Hitachi is active in a variety of business segments including IT Solution, Energy Solution, Industry Solution, Mobility Solution, and Smart Life Solution.
The Swiss group with global network is involved in development, engineering, manufacturing and sale of products, systems and projects in the power grids sector. fiinews.com
