Schneider Electric acquires the remaining 26% stake in Luminous Power Technologies
OREANDA-NEWS. January 26, 2017. Schneider Electric announced today that it has acquired the remaining 26% stake in Luminous Power Technologies for INR 9.5bn (~€130m).
This stake combined with the 74% acquired in May 2011 gives the Group full ownership of Luminous Power Technologies Pvt. Ltd, a leading power back up and home electrical specialist in India with close to 6,000 employees.
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Schneider Electric is the global specialist in energy management and automation. With revenues of ~€27 billion in FY2015, our 160,000+ employees serve customers in over 100 countries, helping them to manage their energy and process in ways that are safe, reliable, efficient and sustainable. From the simplest of switches to complex operational systems, our technology, software and services improve the way our customers manage and automate their operations. Our connected technologies reshape industries, transform cities and enrich lives. At Schneider Electric, we call this Life Is On.