Milbank LLP advised global electrification and automation leader ABB on the sale of its Power Conversion division to AcBel Polytech Inc., a Taiwan-based power management solutions company. The $505 million cash transaction is expected to close in the second half of 2023, subject to regulatory approvals.
The Milbank deal team included Corporate partners Neil Q. Whoriskey and Iliana Ongun with associates Jonathan Schwartz, Tiffany Han, Eleen Zhou, Litigation & Arbitration partner Nathaniel T. Browand; Tax partner Max Goodman; Executive Compensation and Employee Benefits associate Kelly Bartley; Transportation and Space partner John Beahn and special counsel Dana Zelman; Technology partner Nicholas A. Smith and associate Jin Jeon.
