Reuters logo
BRIEF-Schneider Electric combines with Aveva on software business‍​
September 5, 2017 / 6:51 AM / 20 days ago

BRIEF-Schneider Electric combines with Aveva on software business‍​

Sept 5 (Reuters) - SCHNEIDER ELECTRIC SE:

* COMBINATION OF AVEVA AND SCHNEIDER ELECTRIC INDUSTRIAL SOFTWARE BUSINESS TO CREATE GLOBAL LEADER IN ENGINEERING AND INDUSTRIAL SOFTWARE‍​

* TO PAY TO AVEVA GBP 550 MILLION IN CASH (APPROXIMATELY 858 PENCE PER ORDINARY SHARE), CO TO HOLD A MAJORITY OF THE ENLARGED AVEVA SHARE CAPITAL

* ON COMPLETION SCHNEIDER ELECTRIC WILL OWN 60 PERCENT OF ENLARGED AVEVA GROUP ON A FULLY DILUTED BASIS ‍​

* ON COMPLETION EXISTING AVEVA SHAREHOLDERS AND PARTICIPANTS IN AVEVA SHARE PLANS WILL RETAIN 40 PER CENT EQUITY OWNERSHIP (ON FULLY DILUTED BASIS)‍​

* AVEVA TO DISTRIBUTE GBP 100 MILLION (C. 156 PENCE PER ORDINARY SHARE) IN CASH TO SHAREHOLDERS (EXCLUDING SCHNEIDER ELECTRIC) AT OR AROUND COMPLETION

* COMPLETION OF COMBINATION EXPECTED TO BE AT OR AROUND THE END OF 2017, IF NUMBER OF CONDITIONS ARE FULFILLED Source text : bit.ly/2wAT6Jj Further company coverage: (Gdynia Newsroom)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below