Schneider: Indian Competition Commission gives go-ahead

(CercleFinance.com) - The Indian Competition Commission has approved the combination of Schneider Electric's Low Voltage and Industrial Automation business in India with the Electrical & Automation business of Larsen & Toubro (L&T).


Schneider Electric and Temasek, a Singapore-based global investment fund and L&T are working together to finalise the last legal and financial aspects of the transaction. These companies are also collaborating to respond to the changes requested in its decision by the ICC.

The group said that the deal is expected to be closed in a few months' time.

At the closing of this deal, India will become the third largest country for Schneider Electric in terms of revenues, and will be one of its main centres of innovation and production.


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