Schneider Electric SE.
Schneider Electric Acquires Temasek’s 35% Stake in Indian Unit for $6.4 Billion: Mumbai – Schneider Electric SE has announced a major strategic move to fully acquire its Indian subsidiary by purchasing the 35% stake held by Singaporean investor Temasek for an all-cash consideration of $6.4 billion. The transaction, which will give the French multinational full ownership of Schneider Electric India Private Limited, underscores the company’s commitment to strengthening its presence in what it calls its third-largest market globally.
This acquisition is the culmination of a partnership that began in 2018 when Schneider and Temasek jointly acquired the electrical and automation business of Larsen & Toubro. The L&T business was subsequently combined with Schneider’s existing Indian operations, with Temasek holding a 35% stake in the newly formed entity. The full acquisition is expected to streamline decision-making and accelerate the company’s growth strategy in India, which serves as one of its four global hubs.
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A number of leading Indian law firms are advising on the significant transaction.
AZB & Partners is acting as legal advisor to Schneider Electric on the acquisition. The transaction team is led by Senior Partner Ashwath Rau and Partner Jasmin Karkhanis, with support from Senior Associates Dishti Kaji and Aakshay Amesur, and Associate Prankul Boobana.
Khaitan & Co advised Temasek on its stake sale and exit from Schneider Electric India, marking a strategic conclusion to its investment in the joint venture.
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JSA Advocates & Solicitors is providing counsel to Schneider Electric on the competition law aspects of the deal, which will require regulatory approvals. The JSA team is chaired by Partner Nisha Kaur Uberoi and includes Partner Pranav Satyam, Principal Associate Sarthak Pande, Senior Associates Shivangi Chawla, Samriddha Gooptu, and Ishan Arora, along with a team of associates.
The deal highlights India’s growing importance as a domestic market and a key manufacturing and R&D hub for Schneider Electric, which has committed to further expanding its operations and capacity in the country.
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