Deals
Schneider Electric Plans $1 Billion Telemecanique Sale
- French conglomerate exporing sale of two other non-core assets
- Sale would add to record dealmaking run in industrials sector
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Schneider Electric SE is weighing a sale of several assets including its industrial automation and control unit, which could be valued at about $1 billion, according to people familiar with the matter.
The French industrial conglomerate is working with an adviser to gauge interest from potential suitors for the Telemecanique business, the people said. An auction process is likely to draw both strategic and private equity buyers, the people said, asking not to be identified discussing confidential information.