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ABB to acquire ABS Global Industries and Services Limited
ABB Limited has approved the proposal to acquire the operating business of the wholly
owned Indian subsidiary of the ABB Group, Zurich, viz. ABS Global Industries and Services
Limited (ABBGISL) for a consideration of `400cr, as a slump sale on a going concern
basis. Businesses that are proposed to be acquired are (a) transformer insulation – boards
and components, (b) LV breakers and switches and (c) vacuum interrupters, which all
together are expected to generate additional revenue of approximately `250cr on a fullyear basis. The acquisition of the operating business of ABBGISL ASB Limited is expected to
result in business synergies and improve the range of offerings in India. We maintain our
Sell recommendation on the stock with a Target Price of `595.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
ABB to acquire ABS Global Industries and Services Limited
ABB Limited has approved the proposal to acquire the operating business of the wholly
owned Indian subsidiary of the ABB Group, Zurich, viz. ABS Global Industries and Services
Limited (ABBGISL) for a consideration of `400cr, as a slump sale on a going concern
basis. Businesses that are proposed to be acquired are (a) transformer insulation – boards
and components, (b) LV breakers and switches and (c) vacuum interrupters, which all
together are expected to generate additional revenue of approximately `250cr on a fullyear basis. The acquisition of the operating business of ABBGISL ASB Limited is expected to
result in business synergies and improve the range of offerings in India. We maintain our
Sell recommendation on the stock with a Target Price of `595.
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