![]() (Ireland), Schneider Electric SE (France), Honeywell International Inc. The Major Players Covered in Independent Microgrid Market Report: ABB (Switzerland), General Electric Company (United States), Siemens AG (Germany), Eaton Corporation Inc. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary and SWOT analysis. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. ![]() A detailed study accumulated to offer Latest insights about acute features of the Worldwide Independent Microgrid market. As a result of the transaction, Power Grids Business of ABB Ltd will operate as Hitachi ABB Power Grids AG.Latest Study on Industrial Growth of Worldwide Independent Microgrid Market 2023-2028. ABB has a pre-defined option to exit the retained 19.9% shareholding three years after closing of this transaction. (TSE:6501) completed the acquisition of 80.1% stake in Power Grids business of ABB Ltd (SWX:ABBN) on July 1, 2020. David Dawborn, Santi Darmawan and Santi Darmawan of Hiswara Bunjamin & Tandjung acted as legal advisor to ABB Ltd. Arunima Chatterjee and Aakarsh Narula of AZB & Partners acted as legal advisor of Hitachi. ![]() Ernst & Young GmbH acted as financial advisor to ABB Asea Brown Boveri Ltd. Lopes Jr., Cauê Rezende Myanaki, Gabriela Conca and Luiza Baltazar Scotini of Pinheiro Neto Advogados acted as legal advisors for ABB. Vera Cardona of Baker & McKenzie LLP acted as legal advisors for Hitachi. David Allen, Kathy Honeywood, Adriana Carolina Combatt, Jannan Crozier, Stefanía Olmos and Juan F. Ingrid Vandenborre, Stephane Dionnet, Andrew Foster and David Wales of Skadden acted as legal advisor to ABB Ltd. Mitsubishi UFJ Morgan Stanley Securities acted as fairness opinion provider to ABB Ltd. Claude Lambert, Andreas Müller, Maria Braun, Reto Heuberger, Stefan Oesterhelt, Jürg Frick, Eduard De Zordi, Richard Stäuber, Balz Gross, Gregor Bühler and Luca Dal Molin of Homburger AG acted as legal advisor to ABB Ltd. The advisory fee for the transaction is approximately ¥10 billion ($88.2 million). LLC acted as financial advisers while Stephen Hewes, Nina Janic and Piers Prichard Jones of Freshfields Bruckhaus Deringer LLP were legal advisers to ABB. as lead financial advisor and Goldman Sachs Japan Co., Ltd. Hitachi has been assisted by UBS Securities Japan Co., Ltd. The cash proceeds from this deal will be returned to ABB's shareholders through a buyback program or similar mechanism. As of May 29, 2020, the European Commission approved the transaction. As of April 7, 2020, Competition Commission of India has approved the transaction. The deal is expected to be completed at the end of the second quarter 2020. The deal is subject to antitrust approval and expected to close in the first half of 2020. Duggan and Gu will continue as advisors and in addition, Duggan will be appointed a member of the Hitachi ABB Power Grids board, representing ABB, while Gu will continue as Chairman of the Board of Directors of ABB China. Frank Duggan and Chunyuan Gu will step down from their roles as Presidents of the Europe and AMEA (Asia, Middle East and Africa) regions respectively, as those roles are to be discontinued under the new ABB operating system. ![]() With the announced divestment of Power Grids to Hitachi, Claudio Facchin will continue to lead Power Grids as a standalone business ahead of the closing of the transaction. At closing, business unit will become operating subsidiary of Hitachi and will be headquartered in Switzerland. The business has implied 11.2x enterprise value to operational EBITA multiple. For the year ending 2017, Power Grids business of ABB reported total assets of approximately $8.4 billion, total revenues of approximately $10 billion, income from operation of approximately $880 million and EBITA of approximately $1 billion. The acquisition will be funded through cash on hand and borrowings. The final purchase price will be determined after customary adjustments for net working capital and net debt based on the actual amounts based at the closing date. The purchase price of 80.1% stake is approximately $6.4 billion after deducting debt like items from the enterprise value. As per terms, the agreed enterprise value of the acquired business is $11 billion. In a related transaction, Hitachi entered into a purchase option to acquire the remaining 19.9% stake in Power Grids Business of ABB. (TSE:6501) signed an agreement to acquire 80.1% stake in Power Grids business of ABB Ltd (SWX:ABBN) for $9.4 billion on December 17, 2018.
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