Schneider Electric Acquires Full Stake in Indian Joint Venture
French energy and automation company Schneider Electric has acquired the remaining 35% stake in Schneider Electric India Private Limited (SEIPL) from Temasek in an all-cash transaction valued at $6.3 billion (€5.5 billion).
The move concludes a joint venture initiated in 2018, when Schneider Electric and Temasek jointly acquired the Electrical and Automation business of Larsen & Toubro, merging it with SEIPL's operations.
India is now the company's third-largest market. In 2024, SEIPL reported statutory revenues of $2.1 billion (€1.8 billion), while total India sales, including subsidiaries, reached $2.9 billion (€2.5 billion).
Schneider Electric said the acquisition aligns with its strategy to develop India as a key R&D and supply-chain hub for the Asia Pacific and other emerging markets. The company expects double-digit compound annual growth in organic sales and plans to expand its India capacity by 2.5 to 3 times.
Olivier Blum, CEO of Schneider Electric, called the move a reinforcement of its multi-hub strategy and a contribution to India's 'Atmanirbhar Bharat' (self-reliant India) vision.
Chia Song Hwee, Deputy CEO of Temasek, highlighted the value of strategic partnerships in driving long-term growth.
Source: smart-energy.com
