Temasek to sell stake in Indian JV with Schneider Electric for $8.15b

Temasek obtained its 35% stake in this joint venture for $2.59b in 2018.

Temasek will let go of its 35% stake in Schneider Electric India Private Limited (SEIPL) to sell it to its French majority owner, Schneider Electric, for $8.15b (€5.5b).

According to Schneider, it believes in the future potential of its India business and that full ownership of SEIPL is the logical next step for its strategic investment focused on India.

The purchase price of this deal is a huge premium for Temasek, given that it had initially invested around $941m in the India joint venture in 2018.

Schneider reported that in 2024, SEIPL had statutory revenues of $2.67b (€1.8b) and total sales in India were $3.70b (€2.5b) across subsidiaries.

€1 = $1.48