BARCELONA, 5 Sep. (EUROPA PRESS) -
Schneider Electric has closed this Friday the purchase of the Spanish company Telvent, Abengoa's technological subsidiary, for a price of 40 dollars per share (about 28 euros), which means that the value of the acquisition amounts to about 1,400 million dollars, that is, 950 million euros, sources of the French company have explained to Europa Press.
The acquisition was announced on June 1 by the company.
...BARCELONA, 5 Sep. (EUROPA PRESS) -
Schneider Electric has closed this Friday the purchase of the Spanish company Telvent, Abengoa's technological subsidiary, for a price of 40 dollars per share (about 28 euros), which means that the value of the acquisition amounts to about 1,400 million dollars, that is, 950 million euros, sources of the French company have explained to Europa Press.
The acquisition was announced on June 1 by the Spanish company, and the European Commission authorized the purchase in August, after analyzing it through the simplified procedure for mergers.
"I am convinced that, together, Telvent and Schneider Electric will respond to our customers' present and future challenges of sustainability and efficiency," Schneider Electric Executive Vice President of Energy Michel Crochon said in a statement.
Likewise, the company has argued that "Telvent's strong positioning in infrastructures and its leadership in the development of software and IT systems, add to Schneider Electric's experience in energy management and its global presence".
The president and CEO of Telvent, Ignacio González Domínguez, stressed that customers will continue to receive the same excellence in services and solutions that they know and trust.
"But we will still go further, since, from this integration, we will be able to provide them with greater benefits thanks to new improvements and services," he stressed.
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