Khaitan, AZB, and JSA law firms have taken action in response to Schneider Electric's purchase of a $6.4 billion stake in Schneider Electric India, previously owned by Temasek.
Schneider Electric, a leading global energy management and automation solutions provider, has announced the completion of its $6.4 billion acquisition of Temasek's 35% stake in Schneider Electric India Private Limited. This significant transaction marks a further commitment by Schneider Electric to supporting India's future expansion.
On the corporate law and broader transactional aspects, AZB & Partners advised Schneider Electric, while Khaitan & Co advised Temasek on its stake sale and exit from Schneider Electric India. JSA Advocates & Solicitors, on the other hand, handled the competition law matters and regulatory approvals from the Competition Commission of India.
Nisha Kaur Uberoi, Partner and Chair of Competition Law Practice at JSA Advocates & Solicitors, led the team that advised Schneider Electric on the competition law aspects of the transaction. The Schneider Electric transaction team at AZB & Partners included Partners Ashwath Rau and Jasmin Karkhanis, Senior Associates Aakshay Amesur, Sarthak Pande, Shivangi Chawla, Samriddha Gooptu, and Prankul Boobana, and Associates Akanksha Mathur, Mehar Singh Dang, Aditya Prakash, Naman Katyal, Meghaa G, Cherian Chacko Manayath, Ashmeka K, and Mayank Gandhi.
Schneider Electric's unique setup in India makes it the third largest market and one of its four hubs. The company was previously 65% owned by Schneider Electric SE and 35% by Temasek. The balance 35% stake in Schneider Electric India was held by Temasek post the joint acquisition of the electrical and automation business of L&T.
Schneider Electric SE is committed to supporting India's future expansion. With this acquisition, the company aims to strengthen its position in the Indian market and further its mission to empower businesses and society by delivering energy management and automation solutions.
Khaitan & Co, with its extensive experience in advising on complex transactions, provided valuable guidance to Temasek on its stake sale and exit from Schneider Electric India. The exact terms of the agreement were not disclosed.
This acquisition underscores Schneider Electric's confidence in India's economic growth and its potential as a key market for energy management and automation solutions. The company's continued investment in India is a testament to its belief in the country's future and its commitment to contributing to India's sustainable development.
Investing in the stake sale and exit from Schneider Electric India was advised by Khaitan & Co, recognizing the potential of India as a key market for real-estate, business, and investing in energy management and automation solutions. With this transaction, Schneider Electric aims to further its business in India, strengthening its position in the real-estate market and supporting India's sustainable development.
