ABB - ABB shareholders accept spin-off of Accelleron turbocharging division

• ABB ( NYSE: ABB ) shareholders have approved the proposed spin-off of its Accelleron turbocharging division.
• As previously disclosed , ABB will distribute to its shareholders, on a pro rata basis, as a dividend in kind, 1 Accelleron share for 20 ABB shares held.
• Accelleron's listing on SIX Swiss Exchange in Zurich is scheduled for Oct.3, 2022. The division has an installed base of ~180K turbochargers and a network of over 100 service stations across 50 countries worldwide.
• In 2021, the business generated revenues of $756M with an operating margin of 25%; cash flows from operating activities stood at $163M in 2021 thereby enabling the company to adopt an attractive dividend policy.

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