The deal, which values ABB E-mobility’s equity at 2.5 billion Swiss francs, is a halfway house after original plans for an initial public offering were delayed by volatile markets.
The deal values the unit at around 3 times 2023 sales, assuming far-from-impossible 50% revenue growth this year and next.
The charging division gets long-term investors, a beefed-up board and greater independence, making an IPO easier when markets recover.
ABB meanwhile continues to streamline its operations to focus on the core fast-growing areas of electrification and automation.
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