ABB India in talks with L&T to acquire its Electrical and Automation division
DSIJ Intelligence / 21 Jun 2017
ABB is in talks with L&T to acquire its electrical and automation division which generated revenues of Rs 4,650 crore in 2016-17 and is expected to be valued at Rs 14,000-18,000 crore – reported a leading business daily.
ABB India surged over 2% at Rs 1532.00 per share on BSE at pre-lunch hours of Wednesday’s trade.
ABB is in talks with L&T to acquire its electrical and automation division which generated revenues of Rs 4,650 crore in 2016-17 and is expected to be valued at Rs 14,000-18,000 crore – reported a leading business daily.
ABB commands 75% stake in ABB India, its listed arm, which will enable to strengthen its position in India.
The stock on NSE attracted a traded volume of 1,08,062 shares and a traded value of Rs 1663.97 lakh on Wednesday’s intraday trade.
The market cap of ABB Group stands at USD 57 billion and revenues of UDS 35.5 billion.
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