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via seekingalpha.comCapital Markets

ABB to pay $495M for 51% stake in low-voltage distribution JV with Mitsubishi Electric

FROM THE WIRE · SEEKINGALPHA.COM

ABB formed joint venture with Mitsubishi Electric's newly carved-out low-voltage power distribution business, forming a new company focused on low-voltage solutions for Asian markets.

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralA mid-sized industrial joint venture deal relevant to the Asian electrical equipment market.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01ABB formed a joint venture with Mitsubishi Electric's newly carved-out low-voltage distribution business.
  2. 02The new company will focus on low-voltage solutions for Asian markets.
  3. 03ABB will pay $495 million for a 51% stake.

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