WKB advised ABB with regards to the Polish legal aspects of ABB’s divestment of the Power Grids Division into a separate entity, together with the part of the company which provides support services to this Division in the CEE region. The transaction was carried out simultaneously in multiple jurisdictions across the world.
WKB supported ABB in its preparation and divestment of the Power Grids Division and the part of the company which provides support services to this Division, as well as their transfer to companies specifically established for this purpose.
Moreover, WKB advised ABB on employment matters related to workplace relocation, as well as on issues concerning public procurements in relation to ongoing and forthcoming business contracts.
As a result of ABB’s global divestment of the Power Grids Division, a joint venture company – Hitachi ABB Power Grids – was established in cooperation with Hitachi. During the initial phase of its operations, Hitachi will hold 80.1% of shares in the joint-venture, with ABB holding a minority interest for at least three years, with an option to withdraw after that period. As announced by ABB, the entire Power Grids Division is worth 11 billion dollars in total.
ABB is a global engineering company and a leader in designing electrification products, robotics, industrial automation and power grids. It serves customers in the public utility, industry and transportation, and infrastructure sectors all over the world.
Hitachi is a global technology concern with experience in the fields of operational and information technologies, providing digital solutions deployed in a variety of sectors: IT, energy, industry, mobility, and Smart Life.
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