Cevian Capital looking to sell ABB Power Grids in parts
Cevian Capital, the Swedish activist fund, wishes to sell ABB's Power Grids division in parts, according to Dagens Industri.
The Swedish business daily reported, without citing any named sources, that if ABB decides to spin off Power Grids, Cevian plans to try and sell the division in pieces in order to gain as much value as possible.
One source said that Cevian knows that ABB will be forced to talk to buyers for parts of Power Grids if approached. Another source said that Cevian has already worked on finding possible buyers.
Meanwhile, the paper asked Cevian partner, Christer Gardell, if the company has talked to possible bidders for parts of Power Grids, to which he responded that Cevian always meets stakeholders and competitors when carrying out its usual analysis duties.