25th Mar 2019 10:40
LONDON (Alliance News) - Schneider Electric SE is in talks over selling its Pelco video surveillance firm to private equity firm Transom Capital Group, the French power company said Monday.
The disposal would come after Schneider said it would be reviewing assets totalling EUR1.5 billion to EUR2 billion of revenue as it looks to focus on energy management and industrial automation.
Schneider did not say how much it would be sold for, but said it would book a non-cash loss on disposal of up to USD250 million. However, its adjusted earnings before interest, taxes, and amortisation margin would rise by around 10 basis points.
Pelco contributed revenue of EUR169 million in 2018, out of group revenue of EUR25.72 billion.