Japan's Mitsubishi Electric, ABB plan power-distribution JV
( October 21, 2026, 02:18 GMT | Official Statement) -- MLex Summary: Japan's Mitsubishi Electric said on Tuesday that it had agreed to establish a joint venture with Swiss engineering group ABB for its low-voltage power-distribution business by transferring the business to a newly established subsidiary and then selling a 51 percent stake in the subsidiary to ABB's Japanese unit for 82.4 billion yen ($520 million). Mitsubishi Electric, a publicly listed electrical equipment manufacturer, will retain a 49 percent stake in the joint venture, with the transaction scheduled to close on Oct. 1, 2027, subject to approvals from competition authorities and other relevant regulators in Japan and abroad.Statement is attached....
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