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    ABBN   CH0012221716

ABB LTD

(ABBN)
  Report
Delayed Swiss Exchange  -  11:31 2022-11-29 am EST
29.43 CHF   -0.20%
11/29Energy efficiency is the best way for industry to cut costs and reduce emissions right now
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11/29Abb : Energy Efficiency Is the Best Way for Industry to Cut Costs and Reduce Emissions Right Now
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11/24ABB To Equip China-based COSCO Shipping's Vessels With Shaft Generator Systems
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ABB to Divest Remaining 19.9% Stake in Hitachi Energy JV to Hitachi

09/30/2022 | 02:43am EST

By Pierre Bertrand


ABB Ltd said Friday that it has agreed to divest its remaining 19.9% stake in joint venture Hitachi Energy to Hitachi Ltd.

The JV was formed in 2020 between the Swiss technology company's power grids business and Hitachi. The Japanese electrical equipment manufacturer holds an 80.1% stake in the venture and has exercised a call option worth $1.68 billion for the remaining shares, ABB said.

ABB said it expects a net positive cash inflow of approximately $1.43 billion as a result of the sale. The transaction is subject to regulatory approvals and closing is expected in the fourth quarter of the year.


Write to Pierre Bertrand at pierre.bertrand@wsj.com


(END) Dow Jones Newswires

09-30-22 0242ET

Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD -0.20% 29.43 Delayed Quote.-12.54%
HITACHI, LTD. -0.67% 7299 Delayed Quote.17.95%
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Analyst Recommendations on ABB LTD
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Financials (USD)
Sales 2022 29 244 M - -
Net income 2022 2 134 M - -
Net Debt 2022 3 455 M - -
P/E ratio 2022 28,0x
Yield 2022 2,80%
Capitalization 57 958 M 57 958 M -
EV / Sales 2022 2,10x
EV / Sales 2023 2,07x
Nbr of Employees 106 380
Free-Float 82,8%
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Technical analysis trends ABB LTD
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Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 30,92 $
Average target price 30,31 $
Spread / Average Target -1,97%
EPS Revisions
Managers and Directors
Timo J. Ihamuotila Chief Financial Officer
Peter R. Voser Chairman
Jacob Wallenberg Vice Chairman
David Edward Constable Independent Non-Executive Director
Frederico Fleury Curado Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
ABB LTD-12.54%57 958
SIEMENS LIMITED17.08%12 058
ZHUZHOU CRRC TIMES ELECTRIC CO., LTD.-22.59%9 111
ABB INDIA LIMITED34.87%8 057
SHANGHAI ELECTRIC GROUP COMPANY LIMITED-23.53%8 002
DOOSAN ENERBILITY CO., LTD.-18.63%7 901