ABBA notched up over 400 million album sales over 50 years despite parting ways in 1982 and resolutely resisting all offers to work together again -- until now.

"We have made a new album with ABBA!" the band's Bjorn Ulvaeus and Benny Andersson announced via a video presentation in London, delivering the news fans have waited decades for.

The pop maestros had a string of hits in the 1970s and early 1980s after winning Eurovision in 1974 with "Waterloo".

But on Thursday, Ulvaeus and Andersson put an end to the suspense, following hints that something was in the pipeline.

After the video announcement, both men appeared in person, dressed in black, for a presentation of the forthcoming album.

"The album is in the can now, it's done," said Andersson, describing the group's return to the studio, against the spectacular backdrop of the view from the top of London's ArcelorMittal Orbit tower.