Schneider Electric Acquires Minority Stake in Uplight
March 03 2021 - 1:53AM
Dow Jones News
By Cecilia Butini
Schneider Electric SE said Wednesday that it has entered into an
agreement to acquire a 30% stake in U.S.-based energy solutions
provider Uplight Inc.
The transaction values Uplight at about $1.5 billion, or about
10 times the expected 2021 revenue, the French energy-management
company said. Through the acquisition of the minority stake, the
company said it will have the opportunity to participate in the
digitization of utilities across the world.
Schneider Electric is investing in Uplight alongside AES Corp.
and a group of financial investors, it said.
The transaction is expected to close in the coming months
pending regulatory approvals and French social procedures, the
company said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
March 03, 2021 01:38 ET (06:38 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Schneider Electric (EU:SU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Schneider Electric (EU:SU)
Historical Stock Chart
From Apr 2023 to Apr 2024
