Schneider to review Invensys' appliance unit - CFO

PARIS, July 31 Wed Jul 31, 2013 3:13am EDT

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PARIS, July 31 (Reuters) - France's Schneider Electric said it planned a strategic review of Invensys' appliance unit after it announced a 3.4 billion pound ($5.2 billion) friendly bid for the British engineer.

Schneider, which is acquiring Invensys to boost its industrial automation business, expects to start an appraisal of the business, a maker of controls for washing machines, Chief Financial Officer Emmanuel Babeau told reporters during a conference call on Wednesday.

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