NKT Cables to Acquire ABB Cable Unit Valued at EUR836 Million
September 21 2016 - 2:52AM
Dow Jones News
Brian Blackstone
Zurich--NKT Cables is acquiring ABB's global high-voltage cable
system unit, which has a total enterprise value of 836 million
euros ($934 million), ABB said Wednesday.
The unit being divested "is part of ABB's Power Grids division,
which is currently undergoing a strategic review," ABB said.
NKT Cables employs around 3,200 people and had 2015 revenue of
EUR1.2 billion.
Write to Brian Blackstone at brian.blackstone@wsj.com
(END) Dow Jones Newswires
September 21, 2016 02:37 ET (06:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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