Hitachi Energy Limited has announced that Hitachi Limited has signed a share transfer agreement for the remaining 19.9 per cent shares from ABB Limited, pursuant to the acquisition agreement signed on December 17, 2018.
This is in line with the plan and ahead of schedule. The transfer of shares will be completed by end of December 2022, subject to regulatory approvals. The company is also well-positioned to accelerate the growing electrification of transportation, industry and building sectors with its long-term Hitachi Energy 2030 purpose-driven growth plan. The commitment from Hitachi to the announced acquisition of the remaining shares of Hitachi Energy ahead of plan will help accelerate synergies and implementation of the 2030 Plan enabling its agile and committed team to support customers and partners addressing the global challenge of the energy transition.