March 10, 2014 / 7:51 AM / in 3 years

Schneider says in talks to sell sensors unit CST

1 Min Read

PARIS, March 10 (Reuters) - French electrical gear maker Schneider Electric confirmed on Monday it was in talks with potential buyers for its sensors unit CST, following a newspaper report saying it could reap up to $900 million from a deal.

According to French daily Les Echos, Schneider is in exclusive talks with funds Carlyle and PAI Partners over a sale in which it would retain a 30 percent stake in the unit.

"I can confirm that Schneider is in talks with potential buyers," a company spokesman said, declining to give more details.

Nobody could immediately be reached for comment at Carlyle and PAI Partners. (Reporting by Natalie Huet and Matthieu Protard; Editing by Lionel Laurent)

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