ABB to Pay $495 Million for Controlling Stake in Mitsubishi Electric Unit
ABB said it is investing roughly $495 million to buy a controlling stake in Mitsubishi Electric’s newly carved-out low-voltage power distribution business, forming a joint venture.
By Adria CalatayudABB said it is investing roughly $495 million to buy a controlling stake in the newly carved out low-voltage-power distribution business of Japan's Mitsubishi Electric.The Swiss engineering group said Tuesday that it is forming a joint venture with Mitsubishi Electric to strengthe…