Schneider Electric £3 billion reverse takeover of Aveva Group

5/9/2017
Merger

£ 3 billion

$ 3.914 billion

Announced

5/9/2017


Overview:

  • Schneider Electric has undertaken the merger of its industrial software business unit that of Cambridge based Aveva Group via a reverse takeover.
  • The deal will see Schneider take a 60% stake in Aveva valued at £1.7 billion. Aveva will receive the software unit and £550 million in return.
  • The combined company, valued at £3 billion, will create software to be used in the energy, oil and gas and shipping industries.
  • This is the third attempt to complete the deal following failed bids in 2015 and 2016.
  • Lazard acted as financial adviser to Aveva, Morgan Stanley advised Schneider.

Sam Duke - Editor

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