Schneider Electric to acquire remaining stake in Indian arm from Temasek for €5.5 billion
Schneider Electric will acquire the remaining 35% stake in its Indian subsidiary, Schneider Electric India Pvt Ltd (SEIPL), from Singapore’s Temasek Holdings in an all-cash deal valued at €5.5 billion (approximately ₹55,880 crore), the French industrial technology major said on Wednesday.
The transaction, which is subject to regulatory approvals including from the Competition Commission of India, is expected to close in the coming quarters, ET Energy reported.
Upon completion, Schneider Electric will have full ownership of SEIPL.
Calling the move a “logical next step” in its strategic focus on India, Schneider Electric said the acquisition will help accelerate decision-making and execution in the country, which it described as a critical growth market and a key hub for its global operations.
“India is one of the key focus markets of Schneider Electric for the years to come and I am very excited by the prospect to capture the full growth potential of this unique opportunity we have in the country,” said Olivier Blum, Chief Operating Officer, Schneider Electric.
He added that the company will also leverage India’s strengths in R&D, digital and supply chain capabilities to serve the wider Asia-Pacific region and beyond.
India is now the group’s third-largest market and one of its four global hubs.
SEIPL posted statutory revenue of €1.8 billion in 2023, including export sales.
Total sales in India across Schneider subsidiaries stood at €2.5 billion.
Schneider expects SEIPL to clock double-digit organic sales growth in the coming years and plans to expand capacity in India by 2.5 to 3 times.
The French company’s partnership with Temasek began in 2018 when they jointly acquired the Electrical & Automation business of Larsen & Toubro and integrated it with SEIPL’s low voltage and industrial automation operations.
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