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2mo ago

Schneider Electric to Acquire Temasek’s Remaining 35% Stake in India JV for €5.5 Billion

Subject to Competition Commission of India approval, the purchase gives Schneider sole control of SEIPL to accelerate local decisions in its vital Indian market.

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Schneider Electric, Temasek

Overview

  • Schneider Electric will pay €5.5 billion in cash to buy Temasek’s 35% holding in Schneider Electric India Pvt Ltd, with completion expected in the coming quarters pending regulatory clearance.
  • Full ownership is designed to streamline decision-making in India, which is Schneider’s third-largest market and a key node in its global multi-hub model.
  • SEIPL reported statutory revenues of €1.8 billion in 2024, including exports, and achieved €2.5 billion in domestic sales across its 31 manufacturing facilities.
  • Schneider plans to leverage complete control to drive double-digit annual organic sales growth and expand its Indian capacity by 2.5× to 3×.
  • The joint venture was formed in May 2018 when Schneider and Temasek jointly acquired Larsen & Toubro’s Electrical & Automation business, with Temasek contributing Rs 5,075 crore in cash.