Brief: ABB Ltd Says Completes Divestment Of Mechanical Power Transmission Division (Dodge)

RBC Bearings

01/11/2021 20:51

Nov 1 (Reuters) - Abb Ltd  ABBN.S :
    * COMPLETES DIVESTMENT OF MECHANICAL POWER TRANSMISSION
DIVISION
(DODGE)
    * EXPECTS TO BOOK A NON-OPERATIONAL PRE-TAX BOOK GAIN OF
APPROXIMATELY $2.2 BILLION ON SALE OF DODGE IN Q4 OF 2021
    * EXPECTS TO RECORD AN EXPENSE OF APPROXIMATELY $200-250
MILLION
FOR INCOME TAXES AND PAY CASH TAXES OF APPROXIMATELY $400
MILLION DUE TO TRANSACTION


Further company coverage:  ABBN.S 

 ((Reuters.Briefs@thomsonreuters.com;))