Schneider Electric Accepts Binding Offer for CST from Carlyle, PAI

By Dow Jones Business News, 
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By Inti Landauro

PARIS--Schneider Electric SA (SU.FR) Thursday said it accepted the binding offer made by private equity funds Carlyle and PAI for its unit making sensors CST.

The offer made by Carlyle and PAI valued CST at $900 million though the companies didn't say how much Schneider Electric would get from the transaction.

According to the deal, Schneider Electric would invest $100 million in CST and retain a 30% stake in the unit.

The transaction is expected to be closed by the end of the year after securing approval from the different regulatory authorities involved in the process.

Write to Inti Landauro at inti.landauro@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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