SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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: June 2003
Commission File Number: 001-16429
ABB Ltd
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(Exact name of registrant as specified in charter)
N/A
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(Translation of registrant's name into English)
Switzerland
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(Jurisdiction of organization)
P.O. Box 8131, Affolternstrasse 44,
CH-8050, Zurich, Switzerland
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(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
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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
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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, dated June 4, 2003, announcing the sale of its
interest in Swedish Export Credit Corporation.
Press Release
ABB to sell stake in SEK to the Swedish state
Zurich, Switzerland, June 4, 2003 - ABB, the leading power and automation
technology group, today announced that it has agreed to sell its entire 35
percent shareholding in Swedish Export Credit Corporation (SEK) to the Swedish
state for a total cash consideration of 1240 million Swedish Kronor (about US$
160 million).
ABB said the divestment is part of its strategy to focus on its core power and
automation technology businesses and to strengthen its balance sheet. The cash
consideration will be paid in dividends from SEK and will be used to reduce
ABB's debt.
The transaction is planned to be completed by the end of June 2003, and is
subject to funding by SEK in the capital markets and approval by Sweden's
parliament. Once finalized, the Swedish state will own all of the shares in SEK.
"We are pleased to have found this solution with the Swedish state providing SEK
with a clear and strong ownership foundation to continue its successful
business," said Peter Voser, ABB's chief financial officer.
The equity stake in SEK was part of ABB's Structured Finance, most of which has
been divested through a series of transactions since 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 around 100
countries and employs about 135,000 people.
For more information please contact:
Media Relations: Investor Relations:
ABB Corporate Communications, Zurich Switzerland: Tel. +41 43 317 3804
Wolfram Eberhardt Sweden: Tel. +46 21 325 719
Tel: +41 43 317 6512 USA: Tel. +1 203 750 7743
Fax: +41 43 317 7958 investor.relations@ch.abb.com
media.relations@ch.abb.com
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: June 4, 2003 By: /s/ BEAT HESS
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Name: Beat Hess
Title: Group Senior Officer
By: /s/ HANS ENHORNING
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Name: Hans Enhorning
Title: Group Vice President