Hitachi’s Stake-Buy In ABB’s Power Grid Approved
The Competition Commission of India (CCI) has approved acquisition of 80.1 per cent stake in ABB Management Holding AG by Hitachi Ltd.
The proposed combination envisages acquisition of 80.1 per cent share capital of ABB Management Holding AG by Hitachi from ABB Ltd.
ABB Management will hold the entire power grid business of ABB, CCI said in a release. The deal is expected to be complete by the first half of 2020, it had added.