Schneider Electric completes transaction to combine its Low Voltage and
Industrial Automation business in India with Larsen & Toubro's Electrical &
Rueil-Malmaison (France), August 31, 2020 - Further to the announcement made on
1st May 2018, Schneider Electric, the global leader in digital transformation
of energy management and automation, is pleased to announce that it has
successfully completed the transaction to combine Schneider Electric India's
Low voltage and Industrial Automation Products business and Larsen and Toubro
("L&T") Electrical and Automation business.
Schneider Electric holds 65% of the combined business, while Temasek, a global
investment company headquartered in Singapore, holds the remaining stake.
With closing of the transaction, India is set to become the third largest
country of Schneider Electric in terms of revenues and one of its key global
innovation and manufacturing hubs.
The Combined Business would be fully consolidated in the Group's accounts.
About Schneider Electric
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Véronique (Luneau) Roquet-Montegon
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