Schneider to buy 35% remaining stake in India JV for €5.5 billion
Schneider Electric will acquire the remaining 35% stake in its Indian joint venture SEIPL from Temasek for €5.5 billion ($6.4 billion) in cash. This will grant Schneider full ownership of its India unit. This unit was 65% owned by Schneider, while the rest was held by Temasek since the joint acquisition of Larsen & Toubro's electrical and automation business.