ABB India completes sale of Dodge Business for Rs 45 crore
ABB India NSE 0.28 % on Thursday said it has completed the sale of its mechanical power transmission division to Dodge Industrial India Pvt Ltd for a consideration of Rs 44.58 crore. Dodge Industrial India is an affiliate of RBC Bearings Incorporated.
In July this year, ABB board had approved a proposal to divest/sell its mechanical power transmission division (Dodge Business) as a going concern on a slump sale basis to RBC Bearings Incorporated and/or its affiliates/subsidiaries, a BSE filing said.
As per the filing, the business transfer agreement was entered into on December 1, 2021 and the sale of the Dodge Business was completed the same day.
