October 28, 2019 / 7:27 AM / 20 days ago

BRIEF-ABB Announces Acquisition Of Chinese Charging Provider Chargedot

Oct 28 (Reuters) - Abb Ltd:

* ABB TO STRENGTHEN E-MOBILITY PORTFOLIO WITH ACQUISITION OF CHINESE EV CHARGING PROVIDER CHARGEDOT

* IS TO ACQUIRE A MAJORITY STAKE OF 67 PERCENT IN SHANGHAI CHARGEDOT NEW ENERGY TECHNOLOGY CO

* TRANSACTION IS EXPECTED TO BE COMPLETED IN COMING MONTHS AND ABB HAS POSSIBILITY TO INCREASE ITS STAKE FURTHER IN NEXT THREE YEARS Further company coverage: (Berlin Speed Desk)

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