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SoftBank and ABB explore China carve-out for robotics deal

Technology · First reported 7 Nov, 08:39 · Updated 09:13

Image: Wikimedia Commons · NASA Earth Observatory image by Lauren Dauphin, using Landsat data from the U.S. Geological Survey. Story by Adam Voiland. · Public domain

SoftBank Group and ABB are considering separating ABB Robotics’ China business as they seek to salvage SoftBank’s planned $5.4 billion acquisition of the unit, which China’s foreign-investment security review office halted. The reported discussions are based on people familiar with the matter.

  • SoftBank and ABB are studying whether to separate the Chinese business from the robotics deal.
  • China’s Office of the Working Mechanism for Foreign Investment Security Review halted SoftBank’s planned acquisition on Thursday.
  • The unit was valued at $5.4 billion, and the China business is ABB Robotics’ largest single market.
Summary written by Lux AI from 2 articles

Key facts

Deal value
$5.4 billion
Proposed buyer
SoftBank Group
Seller
ABB
China business
ABB Robotics’ largest single market

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  • Unknown 50% (1)

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