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Schneider Considers Buyout of £8.9 Billion Software Firm Aveva

  • French conglomerate already owns majority stake in Aveva
  • Aveva shares have lost about half their value in past year
Updated on

Schneider Electric SE said it’s considering a bid to buy out minority shareholders of industrial software developer Aveva Group Plc.

The French industrial conglomerate believes a full combination with Aveva would help it execute its growth strategy faster, it said in a statement Wednesday that confirmed an earlier Bloomberg News report. It already owns about 60% of London-listed Aveva.