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NKT finalizes acquisition of ABB's cables

After securing approval from the EU Commission Monday, NKT has now completed its huge acquisition of industry peer ABB's cable division.

New and improved NKT Cables is now reality. This is clear after NKT announced Wednesday that the major acquisition of ABB's high-voltage cable business has been finalized.

The purchase has been completed after the EU Commission approved the acquisition Monday. NKT Cables is buying ABB's high-voltage cable business (ABB HV Cable) for EUR 712 million. Furthermore, a new cable-laying vessel from the Swiss/Swedish conglomerate is included in the transaction, pushing the full purchasing sum to EUR 836 million.

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