By Patrick Costello

 

Schneider Electric SE (SU.FR) said Monday that it has entered exclusive negotiations with the U.S. private-equity firm Transom Capital Group over the sale of its Pelco video-surveillance business unit.

The proposed transaction follows a strategic review on assets totalling 1.5 billion euros ($1.7 billion) and EUR2 billion announced in Schneider's 2018 results, the French energy-management company said.

The transaction would be subject to the consultation of the relevant work councils and would be finalized after the completion of this process. It would trigger a noncash loss of disposal of up to EUR250 million, Schneider said. The net impact of this would be excluded from the net income used for dividend calculation, it said.

 

Write to Patrick Costello at patrick.costello@dowjones.com.

 

(END) Dow Jones Newswires

March 25, 2019 04:08 ET (08:08 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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