Brazilian Regulator Approves SoftBank Group's Acquisition of ABB's Robotics Business

Wedoany.com Report-Dec.30, The Brazilian Administrative Council for Economic Defense (Cade) announced on December 29 that it has unconditionally approved the sale of ABB Group's robotics business unit to SoftBank Group. The deal, announced by ABB in October this year, involves an enterprise valuation of approximately $5.375 billion. According to the approval decision, ABB Group will no longer proceed with its previously planned independent listing plan for the robotics business unit.

The approval of this transaction means that SoftBank Group will take over the assets and operations related to ABB's robotics business unit. After review, the Brazilian Administrative Council for Economic Defense concluded that the transaction complies with relevant regulatory requirements and does not pose a risk of restricting competition in the market. ABB Group stated in an earlier announcement that the sale of the robotics business unit is part of its strategy to optimize its investment portfolio.