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Schneider Electric mulls buying Temasek's 35% stake in Indian JV
Schneider Electric SE is considering buying out the remaining stake in its India venture from minority partner Temasek Holdings Pte, according to people familiar with the matter.
Schneider is in talks to buy the 35 per cent stake held by the Singapore state investment company in Schneider Electric India Pvt for about $1 billion, the people said, asking not to be identified because the deliberations are private. A potential transaction could value the whole venture at roughly $5 billion including debt, the people said.
Talks are ongoing and no final decisions have been made, the people said. Representatives for Schneider Electric and Temasek declined to comment.
Schneider Electric India is 65 per cent owned by the French company with the reminder held by Temasek, according to a statement from 2020, when it completed the merger of its Indian low voltage and industrial automation product unit with Larsen & Toubro Ltd.'s electrical and automation operations.
Schneider, one of France's oldest and biggest industrial companies, has evolved from primarily a maker of electrical gear to a provider of software and equipment for buildings, data centers and factories.
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