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French electric equipment maker Schneider to buy remaining 35% stake in India JV with Temasek for $6
Economic Times Schneider Electric SE
French electrical equipment maker Schneider Electric SE has acquired the remaining 35% stake in its India venture Schneider Electric India from minority partner Temasek Holdings for EUR 5.5 Billion (USD 6.4 Billion) in cash. Post the acquisition, Schneider Electric will have full ownership of Schneider Electric India.
In May 2018, Larsen & Toubro had sold its Electrical and Automation business, Lauritz Knudsen Electrical & Automation to a consortium formed by European MNC Schneider Electric and Singapore's state investment firm Temasek for an all-cash consideration of INR 14,000 crore.For FY24, Schneider Electric India had reported about INR 14,707 Cr in Operating Income and about INR 1,708 Cr in PAT.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.