ABB has agreed to divest its global high-voltage cable business to NKT Cables at an enterprise value of approximately EUR 836 million.

The business produces and supplies turnkey solutions with respect to high-voltage submarine and underground cables and includes a state-of-the art manufacturing and R&D facility in Karlskrona, Sweden.

The transaction is subject to certain customary conditions.

Mannheimer Swartling advised ABB on Swedish law aspects of the transaction. The team included Adam Green, Jon Rastad and Klara Apéria (M&A), Anders Nordström and Charlotte Demegård (Employment), Per Molander and Joel Mårtensson (Environment), Magnus Josefsson and Johannes Harlevi (Real Estate) and Anders Erasmie and Carl Lindberg (Tax).