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Britiain's Aveva set to unveil 3 bln pound Schneider merger- Sky News
September 4, 2017 / 6:08 PM / 3 months ago

Britiain's Aveva set to unveil 3 bln pound Schneider merger- Sky News

Sept 4 (Reuters) - British engineering software company Aveva Group is set to unveil a 3 billion pound-plus ($3.9 billion) merger with the software arm of France’s Schneider Electric, Sky News reported on Monday.

The deal is expected to be announced on Tuesday and Aveva’s board is said to be recommending the deal to its shareholders, the broadcaster reported.

Aveva Group, which provides software for the oil, shipping and nuclear power sectors, had said in June last year that it had ended talks with Schneider over a possible tie-up.

Representatives of Aveva Group and Schneider Electric were not immediately available for comment. (bit.ly/2wz4fKv) ($1 = 0.7738 pounds) (Reporting by Parikshit Mishra in Bengaluru; Editing by David Goodman)

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