Schneider Electric Gets Indian Approval to Combine Business With Larsen & Toubro

Date : 06/07/2019 @ 8:04AM
Source : Dow Jones News
Stock : Schneider Electric SE (SU)
Quote : 85.86  -1.42 (-1.63%) @ 11:39AM
Schneider Electric share price Chart

Schneider Electric Gets Indian Approval to Combine Business With Larsen & Toubro

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By Olivia Bugault


Schneider Electric SE (SU.FR) said Friday that the Competition Commission of India has approved the combination of its low voltage and industrial-automation business in India with the electrical and automation unit of Larsen & Toubro Ltd. (500510.BY).

Schneider Electric said at the beginning of last month that it had reached an agreement to buy Indian conglomerate Larsen and Toubro's unit which would then be combined with its own India's low voltage and industrial-automation business.

"Upon closing of the transaction, India will become the third largest country of Schneider Electric in terms of revenues and one of its key global innovation and manufacturing hubs," the French electrical-equipment and automation provider said.


Write to Olivia Bugault at


(END) Dow Jones Newswires

June 07, 2019 03:49 ET (07:49 GMT)

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