ZURICH (Reuters) – ABB still intends to divest its turbocharging business and is aiming to do so before the end of the second quarter, Chief Executive Bjorn Rosengren said on Thursday.
“While we still want to exit the turbocharging business – Accelleron – we will not rush to make the final decision. We aim to do so before the end of Q2,” Rosengren said in comments prepared for the company’s annual general meeting.
“We prefer to spin off Accelleron on the Swiss stock exchange and we would of course seek shareholders’ approval for this,” Rosengren added.
(Reporting by John Revill and Paul Carrel, editing by Kirsti Knolle)
