Hitachi, Ltd. (TSE:6501) entered into a share transfer agreement to acquire remaining 19.9% stake in Hitachi Energy Ltd from ABB Ltd (SWX:ABBN) for $1.7 billion on September 30, 2022. Under the terms of consideration, Hitachi has exercised its call option that was agreed in the original agreement. The two companies have agreed to settle remaining obligations relating to the original transaction, and ABB will continue to provide transition services to Hitachi Energy for it to fully separate from ABB's systems. Hitachi, Ltd already owned 80.1% stake Hitachi Energy & Post completion, Hitachi Energy will become a wholly owned subsidiary of Hitachi. The Transaction is subject to regulatory approvals & the transfer will be completed by the end of December 2022. ABB said that it expects net positive cash inflows of approximately $1.425 billion upon closing of the sale. Hitachi and ABB will continue to pursue comprehensive collaboration after this acquisition. This acquisition will have no impact on Hitachi's consolidated financial forecast for the fiscal year ending March 31, 2023. The transaction is expected to complete in the fourth quarter of 2022. UBS Securities Japan Co., Ltd. acted as financial advisor to Hitachi, Ltd. (TSE:6501).

Hitachi, Ltd. (TSE:6501) completed the acquisition of remaining 19.9% stake in Hitachi Energy Ltd from ABB Ltd (SWX:ABBN) on December 28, 2022.