Schneider accepts Carlyle, PAI offer for sensors unit

PARIS Thu May 15, 2014 12:07pm EDT

PARIS May 15 (Reuters) - French electrical gear maker Schneider Electric said it has accepted an offer from private equity groups The Carlyle Group and PAI Partners for its sensors business in a deal based on an enterprise value of $900 million.

Schneider confirmed that it would reinvest about $100 million in the business - Custom Sensors & Technologies (CST) - in order to have a shareholding of about 30 percent.

Schneider said the transaction was expected to close by the end of the year. (Reporting by James Regan; Editing by Andrew Callus)

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