ABB to Sell Cables Business to Danish NKT for $934 Million

Updated on
  • 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.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.