ABB to Sell Cables Business to Danish NKT for $934 MillionVeronica Ek, Corinne Gretler and Sheenagh Matthews
Business is part of power-grid unit under strategic review
Shareholder Cevian says supports sale, still wants break up
ABB Ltd., under pressure from Swedish activist shareholder Cevian Capital AB to spin off its power-grid division, said it will slim down the business by selling some operations to NKT Cables for an enterprise value of $934 million.
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