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Schneider in talks to buy out stake in India venture: report
The French firm is looking into a deal to acquire Temasek’s 35% share in the joint venture for approximately $1 billion
Schneider Electric SE is in discussions to buy the remaining shares in its India business from Temasek Holdings Pte, Bloomberg reported, citing individuals aware of the matter.
The move could lead to full ownership of Schneider Electric India Pvt.
The French firm is looking into a deal to acquire Temasek’s 35% share in the joint venture for approximately $1 billion.
Based on the current estimates, the deal could place the enterprise value of the company at around $5 billion, including debt.
The matter is still under negotiation, and no agreement has been finalized.
Schneider currently owns 65% of the Indian unit. That structure has been in place since 2020, when Schneider merged its local low voltage and industrial automation business with the electrical and automation operations of Larsen & Toubro Ltd.
This development comes amid a rise in deal activity in India.
Mergers and acquisitions in the country have totaled $31 billion so far this year, showing a 16% increase from the previous year, according to data compiled by Bloomberg.
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