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Europe Daily Bulletin No. 8265

29 July 2002
Contents Publication in full By article 17 / 27
GENERAL NEWS / (eu) eu/competition
Schneider sells Legrand to Wendel and KKR

Brussels, 29/07/2002 (Agence Europe) - France's Schneider Electric has signed a deal with the consortium made up of Wendel Investments and the US investment fund KKR to sell Legrand for EUR 3.63 billion. The consortium will also take on Legrand's net debt (EUR 1.1 bill) valuing the company at EUR 4.8 bill. Schneider will, however, receive a very much lower price than it paid in its takeover bid for the company (EUR 6.4 billion plus an additional payment of EUR 370 million at a later date)....

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