Russian President Vladimir Putin has signed an order on a special decision on transactions of JSC Concept-Invest. The document is published on the portal of legal acts.
Concept-Invest JSC has received permission to purchase 99% of ABB LLC, owned by ABB Asea Brown Boveri Ltd and 1% of ABB LLC, owned by ABB Verwaltungs AG.
Permission has also been obtained to purchase 1% of RUAE LLC (formerly ABB Electrical Equipment). and RUOPC LLC (formerly ABB Operations Center), owned by ABB Verwaltungs AG.
ABB (Asea Brown Boveri) is a Swedish—Swiss multinational corporation in the field of electrical engineering and power engineering. The company was founded as part of the merger of the Swedish company ASEA and the Swiss Brown, Boveri&Cie. ABB includes the sectors of robotics, automated process control systems, energy and electrical equipment. The headquarters are located in Zurich (Switzerland) and Västerås (Sweden).
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