Schneider Electric to Buy All of India JV in €5.5 Billion Deal

Schneider Electric SE agreed to acquire the remaining 35% stake in its India joint venture from Temasek Holdings Pte, helping to step up its presence in the South Asian country.

The French industrial technology firm will pay €5.5 billion ($6.4 billion) in cash to gain full ownership of Schneider Electric India Pvt, according to a statement Wednesday. Bloomberg News reported earlier this month that Schneider Electric was in talks to buy the Temasek stake.