Singapore state investment company Temasek Holdings is selling its 35% stake in an Indian joint venture to French majority partner Schneider Electric for 5.5 billion euros (US$6.4 billion).
The deal will give Schneider Electric, which specialises in digital automation and energy management, full ownership of Schneider Electric India.
“This transaction represents the logical next step in Schneider Electric’s strategic investment focus on India as both an attractive domestic growth market and one of the key hubs in its multi-hub strategy,” the French industrial giant says in a statement on July 30.
Temasek and Schneider Electric formed the Indian joint venture firm in 2018, with the Singapore company investing S$942 million ($728 million).
Temasek’s sale is its second divestment in India in seven months. Last December, the company and Swedish private equity firm EQT Infrastructure sold their Indian renewable energy platform O2 for $1.5 billion.
Temasek had a net portfolio value of S$434 billion as of end-March 2025.
