Schneider Electric SA Plans To Sell Stake in Legrand SA to Investment Banking Firm

After more than a year of legal battles in European courts, Schneider Electric plans to sell its 98.1 percent stake in Legrand SA, Limoges, France, by implementing the sale contract it signed in July with the KKR-Wendel Investissement consortium.

Schneider first announced its intentions to acquire Legrand SA in January 2001. However, the European courts had two concerns about the bid: its impact on competition in the French electrical market, and the Legrand management team's decision

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