The Competition Commission of India has approved the proposed acquisition of certain stake in Schneider Electric India Private Limited(SEIPL/Target 1) and Schneider Electric JV Holdings 2 Pte. Ltd. (SEJV2/Target 2) respectively by Schneider Electric SE (Schenider/Acquirer) from the MacRitchie Investments Pte. Ltd (Seller)

The ‘Proposed Combination’ envisages –

1. Schneider’s proposed acquisition of 35% stake in SEIPL (Proposed SEIPL Transaction)
2. Schneider’s (through Schneider Electric South East Asia (HQ) Pte. Ltd.) proposed acquisition of 35% stake in SEJV2 (Proposed SEJV2 Transaction)

The Acquirer is a company incorporated under the laws of France and is governed by European Council Regulation (EC) No. 2157/2001 of 08^th October 2001. Schneider is actively involved in the digital transformation of energy management and automation in homes, buildings, data centres, infrastructure and industries. With a global presence in over 100+ countries, Schneider is present in Power Management – Medium Voltage (MV), Low Voltage (LV) and secure power, and in Automation Systems. Schneider also provides integrated efficiency solutions, combining energy, automation and software. Schneider operates through its subsidiaries and affiliates in India and offers products and services relating to, inter alia the electrical and automation business.  

Target 1 is a company incorporated in India and is an indirect subsidiary under full operational control and management control of Schneider, even prior to the Proposed Transaction. SEIPL is actively involved in the digital transformation of energy management and automation in homes, buildings, data centres, infrastructure and industries. Further, SEIPL is present in Power Management - MV, LV and secure power, and in Automation Systems.

Target 2 is a private limited company incorporated under the laws of Singapore.

Detailed order of the Commission will follow.

Schneider Electric's 35% acquisitions in SEIPL and SEJV2 cleared; SEIPL was already under Schneider's operational control. The Competition Commission approved Schneider Electric SE's acquisition of 35% stakes in Schneider Electric India Private Limited and Schneider Electric JV Holdings 2 Pte. Ltd. from MacRitchie Investments; SEIPL was already an indirect subsidiary under Schneider's full operational and management control prior to the transactions, and SEJV2 is a Singapore private limited company.