Deals
ABB Working With Credit Suisse, Dyal on Power Grid Options
- Advisers preparing separation ahead of potential divestment
- Swiss engineer may decide by year-end to sell, spinoff unit
This article is for subscribers only.
ABB Ltd. is working with advisers to prepare the potential separation of its power grid unit, people familiar with the matter said, which would be a strong indication that the Swiss engineering company may divest the business worth more than $10 billion.
The Zurich-based company is receiving advice from Credit Suisse Group AG and Dyal Co. on a possible sale or spinoff of the unit, the people said, asking not to be identified because discussions are private. The board of the Swiss engineering company is likely to make a decision by the end of the year on whether to pursue a transaction, they said.