The shareholders of ABB approved the proposed spin-off of its Accelleron turbocharging division at today’s Extraordinary General Shareholders Meeting of ABB Ltd held in Zurich.
The Board of Directors’ proposal to spin off ABB’s market-leading turbocharging business by way of a dividend in kind of Accelleron Industries Ltd’s shares to ABB’s shareholders was supported with 99.72 percent of the votes.
ABB will distribute to its shareholders, on a pro rata basis, as a dividend in kind, 1 Accelleron share for 20 ABB Ltd shares held. Shareholders representing 62.3 percent of the total share capital with a right to vote took part in the meeting.
Accelleron’s listing on SIX Swiss Exchange in Zurich is planned for October 3, 2022. ABB plans to publish Accelleron’s listing prospectus on September 23, 2022
About : Accelleron
Accelleron is a global leader in turbocharging technologies and optimization solutions for 0.5 to 80+ MW engines, helping to provide sustainable, efficient and reliable power to the marine, energy, rail, and off-highway sectors.
Through its innovative product offerings and research leadership, the company accelerates the decarbonization of the industries it operates in.
Accelleron has an installed base of approximately 180,000 turbochargers and a network of more than 100 service stations across 50 countries worldwide.
About : ABB
ABB (ABBN: SIX Swiss Exchange) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio,
ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries.
