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Temasek considers selling stake from Schneider Electric India venture
Articles- Aug 26,24
Another possibility being considered is an initial public offering (IPO) of the stake.
Temasek Holdings Pte is evaluating its options for exiting its stake in a joint venture with Schneider Electric SE, according to sources familiar with the matter. The Singaporean state investment firm is exploring various exit strategies, including selling its minority stake either to Schneider Electric or another interested party. Another possibility being considered is an initial public offering (IPO) of the stake.
In 2020, Schneider Electric merged its Indian low voltage and industrial automation unit with Larsen & Toubro Ltd.’s electrical and automation operations. The resulting entity, Schneider Electric India Pvt, is majority-owned by Schneider Electric with a 65% stake, while Temasek holds the remaining 35%.
The discussions are still in the preliminary stages, and the specifics of any potential transaction are yet to be determined. Both Temasek and Schneider Electric have declined to comment on the matter.
Schneider Electric, a prominent French industrial company, has shifted from its roots in electrical gear manufacturing to focus on providing software and equipment for buildings, data centers, and factories.
(Moneycontrol)
Temasek
Schneider Electric India
software
electrical
electronics
data centers
Temasek Holdings
electrical gear manufacturing
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