Schneider Electric Infra surges 19% as parent co agrees to buy L&T unit

Schneider Electric Infrastructure has surged 19% to Rs 135 on the BSE on back of heavy volumes. Schneider Electric Infrastructure has surged 19% to Rs 135 on the BSE on back of heavy volumes after parent company Schneider Electric entered into a definitive agreement with Larsen & Toubro (L&T) to buy its electrical & automation (E&A) business for an all-cash consideration of Rs 140 billion. Schneider Electric Infrastructure is subsidiary of Schneider Electric, in which the French multinational owns a 75% stake.

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