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.