ABB: Cevian Capital raises stake

(CercleFinance.com) - Activist fund Cevian Capital has raised its share in ABB to 5.
92% of its voting rights, the Swiss-Swedish robotics and engineering group said in a filing.

The holding makes Cevian the second biggest owner after Investor AB, which holds about 11.8% according to ABB's website.

Cevian announced in September that it held a stake of 5.3% of the voting rights.

The Swedish investment firm says it creates value by acquiring substantial ownership positions in undervalued European listed companies, working with management teams to increase their competitiveness.

ABB - whose shares have risen by over 2% year-to-date - was trading 0.2% higher at 23.8 Swiss francs on Monday morning.

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