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

Schneider Electric (EU:SU)
Historical Stock Chart

6 Months : From May 2019 to Nov 2019

Click Here for more Schneider Electric Charts.

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 olivia.bugault@dowjones.com

 

(END) Dow Jones Newswires

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

Copyright (c) 2019 Dow Jones & Company, Inc.
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20191120 11:54:45