Schneider Electric: agreement for acquisition of L&T E&A
(CercleFinance.com) - Schneider Electric has announced signing an agreement with the conglomerate Larsen & Toubro (L&T) to buy its Electrical & Automation division (L&T E&A) and combine it with its own low voltage and industrial automation activities in India.
Under the proposed terms, L&T E&A would be bought for an enterprise value of around 1.75 billion euros. Temasek, an investment fund headquartered in Singapore, will invest in the new entity, holding 35% of it.
The new entity, which has over one billion euros in sales, will generate synergies and significant gains in efficiency, based on the complementarity of Schneider Electric and L&T E&A's businesses, Schneider said.
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Under the proposed terms, L&T E&A would be bought for an enterprise value of around 1.75 billion euros. Temasek, an investment fund headquartered in Singapore, will invest in the new entity, holding 35% of it.
The new entity, which has over one billion euros in sales, will generate synergies and significant gains in efficiency, based on the complementarity of Schneider Electric and L&T E&A's businesses, Schneider said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.