Schneider Electric in Negotiations Over Pelco Sale
March 25 2019 - 4:23AM
Dow Jones News
By Patrick Costello
Schneider Electric SE (SU.FR) said Monday that it has entered
exclusive negotiations with the U.S. private-equity firm Transom
Capital Group over the sale of its Pelco video-surveillance
business unit.
The proposed transaction follows a strategic review on assets
totalling 1.5 billion euros ($1.7 billion) and EUR2 billion
announced in Schneider's 2018 results, the French energy-management
company said.
The transaction would be subject to the consultation of the
relevant work councils and would be finalized after the completion
of this process. It would trigger a noncash loss of disposal of up
to EUR250 million, Schneider said. The net impact of this would be
excluded from the net income used for dividend calculation, it
said.
Write to Patrick Costello at patrick.costello@dowjones.com.
(END) Dow Jones Newswires
March 25, 2019 04:08 ET (08:08 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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