Rueil-Malmaison (France), October 21, 2010 – Schneider Electric announces today that its Belgian subsidiaries, Cofibel and Cofimines, proceed to sell respectively 2,035,108 and 432,205 shares of Schneider Electric (or approx. 0.9% of the share capital).
These subsidiaries, which have minority shareholders, have been holding the shares of Schneider Electric for a long period. This operation is the continuation of the Group’s effort to simplify its structures.
The placement, via an accelerated book building, is conducted by Crédit Agricole Corporate & Investment Bank and Société Générale Corporate & Investment Banking.
About Schneider Electric
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centres/networks, as well as a broad presence in residential applications. Focused on making energy safe, reliable, and efficient, the company's 100,000 plus employees achieved sales of more than 15.8 billion euros in 2009, through an active commitment to help individuals and organisations “Make the most of their energy”.