European Commission Greenlights Aquisition of ABB's High-Voltage Cables Business

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As previously reported the European Commission has approved that NKT Cables’ acquisition of the ABB high-voltage cables business can be completed as planned.

Closing of the transaction is completed as of March 1st, 2017. NKT Cables’ projects business which comprises AC/DC on- and offshore high-voltage cables will be headed by Andreas Berthou, former SVP of ABB HV Cables. Andreas Berthou has been with the company since 1999 and holds extensive experience with the  on- and offshore AC/DC industry. Detlev Waimann, former head of NKT Cables’ projects business, will take up a position as Chief Technology Officer (CTO)  responsible, among others, for the company’s significant R&D and innovation activities as well as Regulatory... ... More: Official Press Release nkt cables

Keywords:

nkt cables, ABB, aquisition, European Commission