ABB to divest solar inverter business to Fimer SpA

📆 7/9/2019 5:19 AM
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ABB Ltd. (ABBN.EB) said Tuesday that Italy's Fimer SpA will acquire ABB's solar-inverter business and its associated liabilities. The Swiss industrial group said it will take an aftertax, non-operational charge of about $430 million in the second quarter from the deal. Around 75% of the financial hit will come from payments ABB will make to Fimer, and the company expects separation charges of around $40 million starting in the second half of 2019.

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