Hitachi plans to acquire 80.1% stakes in ABB's power grid unit
Hitachi Ltd eyes purchase of an 80.1% stakes in power grid unit of the Swiss company, ABB Ltd, for a total consideration of US$11 billion.
The company unit focuses on the on building transformers, long distance electricity-transmission systems and energy storage units. ABB will have an option to sell its 19.9% in power grid three years after the deal is completed.
Once completed, the deal would strengthen Hitachi’s position in the growing power transmission and distribution sector, and help it diversify away from its nuclear plant business.
BS acted as sole lead financial adviser for Hitachi, with Goldman Sachs also a financial adviser. Credit Suisse Group AG and Dyal Co. also acted as financial advisers while Freshfields Bruckhaus Deringer LLP were legal advisers to ABB.
Country updates
-
-
November 19, 2018
Hitachi in talks with ABB for power grid unit sale
Switzerland's ABB is in talks with multiple interested companies including Hitachi, Mitsubishi Electric Corp, and State Grid of China for the sale of its power grid units. The&nbs...
Read more -
July 02, 2018
SUSI Energy Storage Fund hits €252 million final close
The SUSI Energy Storage Fund (SESF) has reached the final closure having received capital commitments of €252 million (US$292,62 million) from institutional investors in Germany, t...
Read more -
September 11, 2017
Japanese group NEC announced it is supplying an energy storage system for the development of the project
Japanese group NEC announced it is supplying an energy storage system for the development of the project. The company also noted this would be the largest energy storage project in Switzerland
-
April 05, 2017
SUSI Energy Storage Fund reaches first closing
The SUSI Energy Storage Fund (SESF) has reached a first closing of €66 million (US$70 million).
Read more -
February 23, 2017
EWZ and Fontavis acquire 25% stake in Trianel Borkum II
Switzerland-based companies EWZ and Fontavis have aquired 25% stake in the 203-MW Trianel Borkum II offshore wind farm in the North Sea.
Read more
