Firms AZB, Khaitan, and JSA have taken action in relation to Schneider Electric's purchase of a $6.4 billion share in Schneider Electric India from Temasek.
Schneider Electric SE, a global leader in energy management and automation, has announced its commitment to supporting India's future expansion. The company's unique setup in India, which is its third largest market and one of its four hubs, will be further strengthened through the acquisition of a 35% stake in Schneider Electric India Private Limited (SEIPL) from Temasek. The deal, valued at $6.4 billion, is a significant move in Schneider Electric's global growth strategy.
The acquisition is being advised by AZB & Partners, with Pranav Satyam and Ishan Arora serving as Partners, and Shivangi Chawla, Samriddha Gooptu, and Sarthak Pande as Senior Associates in the transaction team. Nisha Kaur Uberoi, Partner & Chair - Competition Law Practice at AZB & Partners, is also part of the team, ensuring the deal complies with competition law regulations.
JSA Advocates & Solicitors, on the other hand, is advising Schneider Electric on the competition law aspects of the transaction. Nisha Kaur Uberoi, who is also part of the AZB & Partners team, is not involved in this aspect of the advice provided by JSA. The JSA team includes Nisha Kaur Uberoi, Pranav Satyam, Sarthak Pande, and other associates.
Khaitan & Co is advising Temasek on its stake sale and exit from SEIPL. This information clarifies a previous statement that may have suggested otherwise.
Ashwath Rau, Jasmin Karkhanis, Dishti Kaji, Aakshay Amesur, and Prankul Boobana are also part of the AZB & Partners team for the Schneider Electric India acquisition. Akanksha Mathur, Mehar Singh Dang, Aditya Prakash, Naman Katyal, Meghaa G, Cherian Chacko Manayath, Ashmeka K, and Mayank Gandhi are Associates in the transaction team.
Schneider Electric India was 65% owned by Schneider Electric SE and 35% by Temasek post the joint acquisition of the electrical and automation business of L&T. The acquisition is a testament to Schneider Electric's confidence in India's growth potential and its commitment to contributing to the country's development.
[1] Source: AZB & Partners press release [3] Source: JSA Advocates & Solicitors press release
- The acquisition of Schneider Electric India Private Limited (SEIPL) will be guided by technology-focused advice from law firms like AZB & Partners, JSA Advocates & Solicitors, and Khaitan & Co, ensuring the deal adheres to regulations and supports Schneider Electric's technology-driven growth strategy in India.
- Schneider Electric's advancement in India, a key market and one of its four strategic hubs, is expected to bolster its stance as a global technology leader in energy management and automation, contributing significantly to the country's technological development.
