The logo of Schneider Electric is pictured at the Global Industrie exhibition in Villepinte near Paris, France, March 26, 2024. REUTERS
July 30 (Reuters) – French electrical equipment maker Schneider Electric said on Wednesday that it has agreed to buy the remaining 35% stake in its Indian joint venture from Temasek for 5.5 billion euros in cash ($6.35 billion).
Schneider said that full ownership of Schneider Electric India will help to quicken decision-making for its Indian hub.
The company has sharpened its focus on India in recent years. The country is now Schneider’s third-largest market and one of its four global hubs, with 31 factories there and as many distribution centres.
Reporting by Anna Pruchnicka in Gdansk Editing by David Goodman
