Mumbai: Schneider Electric, the global major in energy management and automation, on Wednesday said it will acquire the remaining 35% stake in Schneider Electric India Private Limited from Singapore's Temasek for 5.5 billion in cash, giving the French industrial technology company full ownership of its Indian operations.
Schneider Electric called the transaction 'the logical next step' in its strategic focus on India, which is both a key domestic market and manufacturing hub for Asia Pacific and emerging markets. "India is one of the key focus markets of Schneider Electric for the years to come," said Olivier Blum, the company's chief executive officer (CEO). "We are excited to capture the full growth potential of this unique opportunity and further implement our multi-hub strategy."
Among France's biggest industrial companies, Schneider Electric has plans for an R&D and supply chain platform for the region and other emerging markets, and complete ownership of SEIPL will 'support speed of decision-making' for India as a hub, said the company. The buyout follows the 2018 transaction where Schneider and Temasek jointly acquired the electrical and automation business of Larsen & Toubro Ltd. for $2.1 billion (₹14,000 crore then) and combined it with Schneider's local operations. Since then, SEIPL has emerged as the company's third-largest market by revenue and a key contributor to global supply chains and research and development.
Schneider Electric called the transaction 'the logical next step' in its strategic focus on India, which is both a key domestic market and manufacturing hub for Asia Pacific and emerging markets. "India is one of the key focus markets of Schneider Electric for the years to come," said Olivier Blum, the company's chief executive officer (CEO). "We are excited to capture the full growth potential of this unique opportunity and further implement our multi-hub strategy."
Among France's biggest industrial companies, Schneider Electric has plans for an R&D and supply chain platform for the region and other emerging markets, and complete ownership of SEIPL will 'support speed of decision-making' for India as a hub, said the company. The buyout follows the 2018 transaction where Schneider and Temasek jointly acquired the electrical and automation business of Larsen & Toubro Ltd. for $2.1 billion (₹14,000 crore then) and combined it with Schneider's local operations. Since then, SEIPL has emerged as the company's third-largest market by revenue and a key contributor to global supply chains and research and development.
