October 1, 2014 / 4:03 PM / 3 years ago

Schneider closes sale of sensors business

PARIS, Oct 1 (Reuters) - Schneider electric said on Wednesday it had finalised the sale of its sensors business to private equity firms The Carlyle Group and PAI Partners.

As part of the deal, Schneider Electric has reinvested some $100 million in the business -- Custom Sensors & Technologies (CST) -- to have a shareholding of about 30 percent.

Schneider had flagged the divestment back in April, saying at the time that the transaction was based on an enterprise value of $900 million. (Reporting by Natalie Huet; editing by David Clarke)

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