Brian Blackstone

Zurich--NKT Cables is acquiring ABB's global high-voltage cable system unit, which has a total enterprise value of 836 million euros ($934 million), ABB said Wednesday.

The unit being divested "is part of ABB's Power Grids division, which is currently undergoing a strategic review," ABB said.

NKT Cables employs around 3,200 people and had 2015 revenue of EUR1.2 billion.

Write to Brian Blackstone at brian.blackstone@wsj.com

(END) Dow Jones Newswires

September 21, 2016 02:37 ET (06:37 GMT)

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