ABB has sold its high-voltage cable business to the Danish company NKT Cables. The total enterprise value reached €836m, or US$934m. The high-voltage business was part of the Power Grids division and generated total revenues of around US$524m with around 900 employees. The business unit has manufacturing and R&D facilities for high-voltage submarine and underground cables in Karlskrona, Sweden. The deal will be closed in the first quarter of 2017.