ABB continues to divest its non-core operations

|About: ABB LTD. (ABB)|By:, SA News Editor

ABB (NYSE:ABB) agrees to sell its Full Service business unit to private equity firm Nordic Capital, in the latest string of divestments of its non-core operations.

"With the agreed sale of our Full Service activities we now have found a new home for five businesses in eleven months that have no substantial synergies with the rest of our portfolio, raising about $1B," says CEO Ulrich Spiesshofer.

The sale is expected to close in the fourth quarter.

ABB -1% premarket