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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Schneider Electric    SU   FR0000121972

Delayed Quote. Delayed  - 05/27 05:37:44 pm
58.3 EUR   +0.40%
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SCHNEIDER ELECTRIC : Buys M&C Energy For Undisclosed Amount

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05/04/2012 | 09:15am CEST

Electrical engineering and power-management company Schneider Electric SA (SU.FR) Friday said it acquired M&C Energy Group, a company specialized in energy procurement and sustainability services, for an undisclosed amount.

MAIN FACTS:

- M&C is based in the U.K. and provides its customers with energy procurement, compliance and performance optimization services mostly on recurring subscription basis.

- The company has more than 500 employees including 300 energy specialists and an international presence with 21 offices across 15 countries, particularly in Europe and Asia-Pacific.

- M&C expects to generate total sales of approximately GBP35 million for the current year ending June 2012 with an EBITA margin above the Schneider Electric average.

- Schneider Electric didn't disclose any financial details on the operation.

- The completion of the transaction is subject to regulatory approvals and customary closing conditions. The closing is expected to occur in the second quarter 2012.

- This acquisition is expected to be accretive on earnings per share from year 1 and to meet Schneider Electric's Return on Capital Employed criteria in year 3.

- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; inti.landauro@dowjones.com

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