PARIS (Reuters) - France’s Schneider Electric (SCHN.PA) expects to achieve 160 million euros ($212.02 million)in operational synergies annually by 2016 through its takeover of British engineer Invensys ISYS.L, it said in a presentation on Wednesday.
The French group added that total integration costs would reach around 150 million euros over 2014/15, with acquisition costs of about 60 million. Tax savings were seen at 400 million euros over the first five years.
Schneider added that it expected a “low to mid single-digit cash EPS accretion in 2014 and high single-digit accretion in 2016”.
Reporting by James Regan; Editing by Christian Plumb