December 15, 2017 / 7:32 AM / 6 months ago

BRIEF-AVEVA, Schneider gets all regulatory clearances except CFIUS approval

* ‍UPDATE RE CLEARANCES & EXPECTED CLOSING TIMETABLE​

* CO, SCHNEIDER ELECTRIC ARE CONFIRM ALL OUTSTANDING REGULATORY CLEARANCES REQUIRED AHEAD OF COMPLETION OF COMBINATION HAVE BEEN RECEIVED​

* ‍APPROVAL OF COMMITTEE ON FOREIGN INVESTMENTS IN UNITED STATES NOT YET RECEIVED; REVIEW PROCEDURE IS ONGOING​

* ‍AVEVA AND SCHNEIDER ELECTRIC ARE NOT AWARE OF AND DO NOT EXPECT ANY SUBSTANTIVE CFIUS CONCERNS​

* ‍CFIUS APPROVAL FOR DEAL IS NOT EXPECTED BEFORE VERY LATE DECEMBER 2017 AT EARLIEST, AND MAY EXTEND AS LATE AS MID-FEBRUARY 2018​

* ‍EXPECTS COMPLETION OF COMBINATION TO OCCUR AT END OF JANUARY OR FEB 2018, SUBJECT TO ANY UNFORESEEN DELAYS IN CFIUS APPROVAL PROCESS​

* ‍AVEVA IS CONTINUING PROCESS OF SELECTING A CHIEF EXECUTIVE OFFICER FOR COMBINED CO​ Source text for Eikon: Further company coverage:

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