Schneider Electric to Acquire Temasek’s 35% Stake in Indian Joint Venture for €5.5 Bn

French energy and automation giant Schneider Electric will acquire the remaining 35% stake held by Singapore-based Temasek in their Indian joint venture, Schneider Electric India Pvt Ltd (SEIPL), for €5.5 billion (approximately ₹55,465 crore).

The deal, announced on 30 July, will be executed through an all-cash transaction and is subject to approval from the Competition Commission of India. It is expected to be completed in the coming quarters.

With this acquisition, Schneider Electric will become the sole owner of SEIPL. The company said full ownership would enable faster decision-making in what is currently its third-largest market. “Full ownership of the India operations will support the speed of decision-making for its third-largest market,” Schneider Electric said in a statement.

The company considers India a critical part of its global operations — not just as a growing domestic market, but also as a major hub in its multi-hub strategy that includes research and development and supply chain operations for India, other emerging markets, and beyond.

Earlier this month, Schneider Electric also announced plans to set up a large manufacturing facility in Tamil Nadu to strengthen its IT business. The new plant will be located in Horizon Industrial Park in Hosur, near Shoolagiri, and will cover 500,000 square feet.

The facility will manufacture and trade Battery Management Products (BMS), Uninterruptible Power Supply (UPS) systems, Power Distribution Units (PDU), cooling systems, and other electronic components. Its location along the Bangalore–Chennai National Highway provides direct connectivity to key southern markets, enhancing logistics and operational efficiency.

The project will be developed in two phases, in collaboration with Horizon Industrial Parks, backed by Blackstone Real Estate funds. The first phase will feature a dust-free production area, modern office space, advanced fire safety systems, and a power-boosted infrastructure to support an initial workforce of 1,500 employees, both direct and indirect.

The second phase will involve constructing a custom facility tailored to Schneider Electric’s technical and operational needs, and is expected to be completed in about seven months.