Schneider Electric: detailed examination ahead of India deal
(CercleFinance.com) - Schneider Electric says that the Indian Competition Commission has begun a more detailed review process of the proposed merger between its low-voltage activity and industrial automation in India and the electrical & automation division of L&T.
For the record, Schneider announced at the beginning of May an agreement with the conglomerate Larsen & Toubro (L&T) to complete this transaction, which must be accompanied by Temasek's investment in the new group (representing 35%).
Considering the proposed combination as very beneficial for Indian consumers and the Indian economy, Schneider will continue to work with the Indian Competition Commission in this review in the coming months.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
For the record, Schneider announced at the beginning of May an agreement with the conglomerate Larsen & Toubro (L&T) to complete this transaction, which must be accompanied by Temasek's investment in the new group (representing 35%).
Considering the proposed combination as very beneficial for Indian consumers and the Indian economy, Schneider will continue to work with the Indian Competition Commission in this review in the coming months.
Copyright (c) 2018 CercleFinance.com. All rights reserved.