Milbank has advised Swedish-Swiss multinational corporation ABB on the $505 million sale of its U.S.-based power conversion business to Taiwan’s AcBel Polytech, which was represented by Sullivan & Cromwell and Covington & Burling.

Reuters quoted AcBel as saying that said the deal would help complete its products portfolio, covering areas including 5G, data centres, high-performance computing and electric vehicle charging while accelerating an upgrade of the power supply industry and development of the North American market.

The Milbank team was led by partners Neil Whoriskey and Iliana Ongun. The Sullivan team was led by partner Ching-Yang Lin, with support from partner Brian Hamilton, while the Covington team was led by partner David Fagan.