Schneider Electric continues to deliver on its portfolio optimization program
Rueil-Malmaison (France), December 5, 2019: Schneider Electric and Vinci
Energies announce today they have signed an agreement for Vinci Energies to buy
Schneider Electric's Converse Energy Projects GmbH, specialized in energy
distribution projects in Germany.
This activity generated revenues of EUR0.1bn in 2018 and employs 300 highly
qualified people. It originally joined the Group through the Areva T&D
acquisition and is currently reported under the Energy Management business of
This transaction follows the strategic review announced in Schneider Electric's
2018 results, as the Group continues to focus its activities on core energy
management and industrial automation offerings. With this transaction, EUR0.5bn
out of the EUR1.5-2.0 billion of revenues have been addressed.
The transaction, which is expected to be completed in the coming weeks, is
subject to customary regulatory approvals.
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