Schneider Electric Acquires Full Stake in India Operations

Schneider Electric is set to purchase the remaining 35% stake of its Indian unit from Temasek for 5.5 billion euros. The acquisition, pending regulatory approval, aims to leverage India's market potential and support local government initiatives, enhancing Schneider's strategic presence and operational capabilities in the region.

Schneider Electric announced on Wednesday its decision to acquire the remaining 35% stake of its Indian subsidiary from Temasek, for a cash sum of 5.5 billion euros. The deal reflects Schneider's strategic intent to consolidate operations in one of its key markets.

The acquisition is contingent upon regulatory approvals, including clearance from the Competition Commission of India. Schneider Electric expects the transaction to finalize in the upcoming quarters, as part of its efforts to enhance its competitive edge in the Indian market.

Olivier Blum, CEO of Schneider Electric, emphasized India's strategic importance, noting plans to harness local talent and capabilities in research, development, and supply chain. The move will reinforce Schneider's multi-hub strategy, aligning with government initiatives like 'Atmanirbhar Bharat' to drive future growth.

(With inputs from agencies.)