France · Competition
Schneider Electric controlled AVEVA in 2018 and bought the rest in 2023
Schneider Electric obtained 60% of enlarged AVEVA on a fully diluted basis in 2018, after combining their industrial software businesses. The 2023 acquisition used a court-sanctioned scheme to buy the publicly held remainder.
Sources checked
- 5 September 2017Industrial software combination announced
Agreement to combine AVEVA and Schneider Electric Software Source 1
- 28 February 2018First transaction finalised
Schneider owns 60% on a fully diluted basis Source 1
- 1 March 2018Consolidation begins
AVEVA fully consolidated in Industrial Automation Source 1
- 11 November 2022Final recommended cash price agreed
3,225p per share Source 2
- 25 November 2022Scheme approvals obtained
Shareholder approvals at Court Meeting and General Meeting Source 2
- 18 January 2023Scheme becomes effective
Schneider acquires outstanding AVEVA shares Source 2
Show 1 more dates
- 31 January 2023Financial liability settled
£4.055 billion paid, including stamp duties Source 2
Schneider fully consolidated AVEVA in 2018. The 2023 transaction acquired the outstanding shares.
The first deal changed what AVEVA owned
Schneider combined its software business with AVEVA and received ordinary shares in the enlarged group. The 2018 annual report records 60% ownership on a fully diluted basis and identifies the remaining stake as a non-controlling interest in the enlarged business. Source 1
The second deal bought the public remainder
The November 2022 final cash offer set a price of 3,225 pence for each AVEVA share covered by the scheme. It addressed shares outside Schneider's holding. The first agreement had already brought AVEVA's operating results into Schneider's Industrial Automation segment. Source 1 Source 2
The vote, legal completion and payment had different dates
Shareholders voted in November. The scheme became effective in January after delivery of the UK court order to the Registrar of Companies. Cash settlement followed later in January, so corporate approval, transfer of shares and payment each had a separate milestone. Source 2 Source 3
What the reported £4.055 billion measures
Schneider's annual filing records the final cash settlement including stamp duties. It also records a £4.039 billion liability at the preceding December year-end. These are measures of the remaining stake transaction and its settlement, separate from the cost of establishing control in 2018. Source 2 Source 1