-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, D5Hn902+M5Tfoz23wc5HRoWeu64QJvr7/yswUTro0yBlH2VA/DfXEFQ0o9kh2LKB htHahvQt9spgxWGZNsbhMg== 0000950127-02-001087.txt : 20021106 0000950127-02-001087.hdr.sgml : 20021106 20021106122745 ACCESSION NUMBER: 0000950127-02-001087 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021105 FILED AS OF DATE: 20021106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ABB LTD CENTRAL INDEX KEY: 0001091587 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT CONSULTING SERVICES [8742] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16429 FILM NUMBER: 02810759 BUSINESS ADDRESS: STREET 1: PO BOX 8131 STREET 2: CH 8050 CITY: ZURICH SWITZERLAND STATE: V8 ZIP: 999999999 6-K 1 a964500_6k.txt REPORT OF FOREIGN PRIVATE ISSUER SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------- FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of: November 2002 ABB Ltd ---------------------------------------- (Exact name of registrant as specified in charter) N/A ---------------------------------------- (Translation of registrant's name into English) Switzerland ---------------------------------------- (Jurisdiction of organization) P.O. Box 8131, Affolternstrasse 44, CH-8050, Zurich, Switzerland ---------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, international: + 011-41-1-317-7111 -------------------- Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F X Form 40-F --- --- Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes No X --- --- If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-________ This Form 6-K consists of the following: 1. Press release of ABB Ltd (the "Company"), dated November 5, 2002, in connection with the sale of the Company's Structured Finance business to GE Commercial Finance. 2. Notification of the Company, dated November 6, 2002, in connection with Investor AB's holdings of the Company. Press Release For your business and technology editors EU gives clearance for sale of Structured Finance business to GE Commercial Finance Group on target to meet net debt reduction goal by year-end Zurich, Switzerland, November 5, 2002 - ABB, the leading power and automation technology group, today welcomed the announcement by the European Commission that it has approved the sale of ABB's Structured Finance business to GE Commercial Finance. ABB said the cash proceeds of about US$ 2.3 billion would be used to cut its debt and strengthen its balance sheet. The transaction is scheduled to be closed on November 29, 2002. "We welcome the European Commission's decision. We are on track to meet our net debt reduction target by the end of 2002," said Peter Voser, ABB's chief financial officer. ABB said it would reduce net debt, which was US$ 4.1 billion at the start of 2002, by at least US$ 1.5 billion this year. "With this sale, other asset divestments already announced and cash from operations, we are confident that we will reach our target." said Voser. The sale has also been approved in the United States. Formal approval from the Swedish Financial Supervisory Authority is expected well in advance of closing. ABB said the sale of Structured Finance is part of the company's strategy to focus on core areas of power and automation technology. Under the deal, ABB sold most of its Structured Finance business. The aircraft leasing business, the ABB Export Bank, and the 35 percent equity stake in the Swedish Export Credit Corporation, which were not part of the agreement, are expected to be divested. Approximately US$ 250 million of these assets have been sold since July 1, 2002. ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impacts. The ABB Group of companies operates in more than 100 countries and employs about 146,000 people. For more information, please contact: Media Relations: Investor Relations: ABB Corporate Communications, Zurich Switzerland: Tel. +41 43 317 3804 Thomas Schmidt Sweden: Tel. +46 21 325 719 Tel: +41 43 317 6492 USA: Tel. +1 203 750 7743 Fax: +41 43 317 7958 investor.relations@ch.abb.com media.relations@ch.abb.com Investor AB's holdings in ABB increase beyond 5 Percent Zurich, November 6, 2002 - Pursuant to Art. 20 of stock exchange act, the Swedish investment company Investor AB, Arsenalsgatan 8c, SE-103 32 Stockholm, announced that, as per November 4, 2002, it holds a total of 82,009,799 registered shares of ABB Ltd, Zurich. This corresponds to 6.83 percent of total capital and voting rights. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ABB LTD Date: November 6, 2002 By: /s/ BEAT HESS ----------------------------------- Name: Beat Hess Title: Group Senior Officer By: /s/ HANS ENHORNING ----------------------------------- Name: Hans Enhorning Title: Group Vice President -----END PRIVACY-ENHANCED MESSAGE-----