Rueil-Malmaison, France: Schneider Electric, a global leader in energy management and automation, has announced a landmark agreement to acquire the remaining 35% stake in Schneider Electric India Private Limited (SEIPL) from Temasek, gaining full ownership of the joint venture.
The €5.5 billion all-cash deal underscores the company’s strategic commitment to India as a core pillar of its multi-hub global strategy.
The transaction is subject to standard closing conditions and regulatory approvals, including clearance from the Competition Commission of India, and is expected to be finalized in the upcoming quarters.
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Strengthening India as a Strategic Growth Engine
With India’s economy expected to grow at over 6% annually (OECD), Schneider Electric views the country as a pivotal engine of growth. India is now the third-largest market for the group, with 2024 revenues of €1.8 billion from SEIPL and total sales across subsidiaries reaching €2.5 billion.
The acquisition follows the successful integration of L&T’s Electrical & Automation (E&A) business, jointly acquired with Temasek in 2018 and merged with Schneider’s Low Voltage and Industrial Automation business. Post-merger, the two entities operated under a “2 brands, 2 sales” strategy, with L&T E&A rebranded as Lauritz Knudsen.
“India is one of Schneider’s top four global hubs. Full ownership of SEIPL enhances our agility and ability to drive growth across Asia Pacific and emerging markets,” said Olivier Blum, CEO of Schneider Electric.
Schneider Electric: Scaling Capacity and Innovation
Schneider Electric plans to expand its manufacturing and R&D capacity in India by 2.5 to 3 times, capitalizing on the country’s skilled workforce and robust government initiatives like ‘Make in India’ and ‘Atmanirbhar Bharat’. The company expects double-digit CAGR in organic sales in the coming years for SEIPL.
SEIPL’s growth is further powered by the company’s increasing focus on digitalization, sustainability, and electrification, aligning with national priorities and industrial transformation trends.
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Strategic Partnership
“Temasek’s role has been invaluable in shaping SEIPL’s success over the past five years. As we take full ownership, we’re committed to leveraging our India capabilities to serve global markets while delivering sustainable innovation,” added Blum.
Chia Song Hwee, Deputy CEO of Temasek, remarked, “Our partnership with Schneider Electric was built on shared values and long-term value creation. We’re proud of what SEIPL has achieved and confident in its continued growth trajectory under Schneider Electric.”
