(Reuters) – The British government said on Wednesday it will take no further action over the takeover of software supplier Aveva by France’s Schneider Electric.
The deal, worth 12 billion pounds (about 14 billion euros) was approved by Aveva shareholders last November.
Schneider Electric, whose business spans electrical components, energy management and industrial automation systems, has been Aveva’s majority shareholder since 2017.
The French group had then paid three billion pounds to acquire the majority of the capital of the company, which develops products used to design and manage oil platforms, ships and chemical factories.
When it filed its offer for the balance of Aveva’s capital in September, Schneider Electric indicated that it wanted Aveva to remain a separate legal entity with its own board of directors.
(Sinchita Mitra; French version Nicolas Delame, edited by Kate Entringer)
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