Schneider Electric to buy L&T unit for Rs.140 bn

Schneider Electric has reportedly entered into an agreement with Larsen & Toubro to buy its electrical and automation business for an all-cash consideration of Rs 140 bn. Under the proposed deal, both partners will make fresh investments in Schneider's wholly -owned subsidiary, Schneider India, which in turn will buy out L& T Electrical & Automation.  With this, India will become the key innovation and manufacturing hub of Schneider. Contact: Kanwaljeet KUKREJA  Address: Schneider Electric India Pvt. Ltd. , 9th Floor, DLF Building No. 10, Tower C,  DLF Cyber City, Phase II,  Gurgaon - 122002  Haryana,  T: 0124-3940400  F: 0124-4222 036  Email: kanwaljeetsingh.kukreja@schneider-electric.com  Website : www.schneider-electric.co.in