(Boursier.com) — Schneider-Electric would be close to taking over the 41% of the capital of the British supplier of industrial software that it does not yet hold. According to information from the Sky News channel, the French and British groups are approaching a deal around a price of more than 30 pounds per Aveva share, which would value the British group at around nine billion pounds. Under UK mergers and acquisitions law, Schneider will have to say whether or not it intends to submit an offer by September 21. At the end of August, the firm based in Rueil-Malmaison confirmed that it was considering an offer for the balance of Aveva’s capital, while specifying that it had not yet made an offer and was not certain to do so.
Products developed by Aveva are used to design and manage oil rigs, ships and chemical plants while the French conglomerate’s activities cover electrical components, energy management and industrial automation systems.
Schneider took control of Aveva after agreeing in 2017 to combine its own industrial software business with the British company. Aveva has since gone from strength to strength through various acquisitions, including SoftBank-backed industrial software maker Osisoft in 2020 at a valuation of $5 billion including debt.
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