France's Schneider Electric to sell Russia unit to local management

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PARIS :France's Schneider Electric SE has agreed to sell its Russian unit to the local leadership team, it said on Monday, joining a wave of companies divesting their Russian businesses.Schneider Electric said it expected to write off up to 300 million euros ($313 million) in net book value as a result of the

PARIS :France's Schneider Electric SE has agreed to sell its Russian unit to the local leadership team, it said on Monday, joining a wave of companies divesting their Russian businesses.

"Schneider Electric is planning an orderly transfer and is allocating resources to support the employees in Russia and Belarus through the process," the company said.

 

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