AVEVA Group PLC (AVV.L)
18 Jan 2018
Wed, Dec 27 2017
* REVIEW PROCEDURE OF COMMITTEE ON FOREIGN INVESTMENTS IN UNITED STATES ("CFIUS") IS STILL ONGOING AND HAS NOW MOVED ON TO PHASE II
* CO, SCHNEIDER ELECTRIC ARE CONFIRM ALL OUTSTANDING REGULATORY CLEARANCES REQUIRED AHEAD OF COMPLETION OF COMBINATION HAVE BEEN RECEIVED
* ALL RESOLUTIONS IN CONNECTION WITH PROPOSED COMBINATION OF AVEVA AND SCHNEIDER ELECTRIC SOFTWARE BUSINESS WERE PASSED ON A POLL AT GENERAL MEETING Source text for Eikon: Further company coverage:
LONDON France's Schneider Electric will take a 60 percent stake in an enlarged industrial software business worth about 3 billion pounds after agreeing to combine with Britain's Aveva Group at the third time of asking.
* France's Schneider will own 60 pct of London-listed company
LONDON France's Schneider Electric will take a 60 percent stake in Britain's Aveva after the pair agreed to combine at the third time of asking to create a software business worth about 3 billion pounds ($3.9 billion).
* SAME COMPELLING INDUSTRIAL LOGIC AS BEFORE, TRADING ENVIRONMENT FOR BOTH BUSINESSES MORE STABLE- CHAIRMAN
LONDON Britain's Aveva Group said on Tuesday it had agreed to combine with Schneider Electric's software business to create a London-listed leader in industrial software worth more than 3 billion pounds ($3.88 billion).
* COMBINATION OF AVEVA AND SCHNEIDER ELECTRIC INDUSTRIAL SOFTWARE BUSINESS TO CREATE GLOBAL LEADER IN ENGINEERING AND INDUSTRIAL SOFTWARE
* Schneider Electric says combining its industrial software business with Aveva