Schneider Electric: completes transaction with L&T in India
(CercleFinance.com) - Schneider Electric has announced that it has successfully completed the transaction to merge its low voltage and industrial automation activities in India with the Electrical & Automation business of Larsen & Toubro (L&T).
The combined business will be fully consolidated in Schneider Electric's accounts, which holds a 65% stake in the combined company, while Temasek, a Singapore-based investment fund, holds the remainder.
Through this deal, India is expected to become Schneider Electric's third largest market in terms of sales and one of its main innovation and manufacturing hubs, Schneider said.
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The combined business will be fully consolidated in Schneider Electric's accounts, which holds a 65% stake in the combined company, while Temasek, a Singapore-based investment fund, holds the remainder.
Through this deal, India is expected to become Schneider Electric's third largest market in terms of sales and one of its main innovation and manufacturing hubs, Schneider said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.