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Activist investor Cevian's ABB stake rises to 6.2 percent

ZURICH, Sept 14 Cevian's stake in ABB has risen to 6.2 percent, according to a filing to the U.S Securities and Exchange Commission, as the activist investor steps up its campaign for the Swiss company to separate its Power Grids business.

Cevian, the second largest shareholder in Zurich-based ABB, previously held a position of 5.2 percent, according to the Swiss stock exchange.

The U.S. filing said Cevian has expressed its support for ABB spinning off its power grids division, "thereby reducing complexity, enhancing focus and improving the governance, operations, competitiveness and, ultimately, value of both the newly-independent Power Grids and the newly-focused Issuer."

Cevian "believes that the benefits of such a spin-off are significant in relation to the Issuer's current market value, and far outweigh any costs of separation, included purported synergies from the conglomerate structure," the filing, which is dated Sept. 13, said.

On Tuesday Cevian said ABB spinning off its Power Grids division as a separate business with its own share market listing would increase the value of investors' holdings by more than 60 percent.

ABB is due to give an update about the business on Oct. 4. (Reporting by John Revill)

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