French energy and automation giant Schneider Electric will acquire the remaining 35% stake held by Singapore-based Temasek in their Indian joint venture, Schneider Electric India Pvt Ltd (SEIPL), for €5.5 billion (approximately ₹55,465 crore).
The deal, announced on 30 July, will be executed through an all-cash transaction and is subject to approval from the Competition Commission of India. It is expected to be completed in the coming quarters.
With this acquisition, Schneider Electric will become the sole owner of SEIPL. The…
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