Schneider: set to sell Luminous Power Technologies
(CercleFinance.com) - Schneider is said to have called on Citigroup to complete the sale of Luminous Power Technologies (LPT) according to India's Economic Times.
Several investment funds are reportedly in talks, including Carlyle, Blackstone and KKR.
Luminous Power Technologies is expected to be worth 500-600 million dollars, according to Aurel BGC. In particular, the company manufactures and sells, inverters and battery systems, the broker says.
Schneider Electric announced at the end of August that it had successfully completed the transaction to combine its low voltage and industrial automation activities in India with those of Larsen & Toubro (L&T)'s Electrical & Automation business.
Thanks to this combination, India should become Schneider Electric's third largest market in terms of sales and one of its main centres of innovation and manufacturing, it said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Several investment funds are reportedly in talks, including Carlyle, Blackstone and KKR.
Luminous Power Technologies is expected to be worth 500-600 million dollars, according to Aurel BGC. In particular, the company manufactures and sells, inverters and battery systems, the broker says.
Schneider Electric announced at the end of August that it had successfully completed the transaction to combine its low voltage and industrial automation activities in India with those of Larsen & Toubro (L&T)'s Electrical & Automation business.
Thanks to this combination, India should become Schneider Electric's third largest market in terms of sales and one of its main centres of innovation and manufacturing, it said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.