Ashurst is currently advising AVEVA Group plc ("AVEVA") on its acquisition of selected Schneider Electric SE ("Schneider Electric") industrial software assets ("Schneider Software"). As part of the transaction AVEVA will acquire Schneider Software and receive from Schneider Electric upon completion £550 million for consideration of new AVEVA shares to be issued to Schneider Electric, such that Schneider Electric will own 53.5% of the Enlarged AVEVA Group. Based on the current AVEVA share price, the c.74 million AVEVA shares to be issued to Schneider Electric as part of the transaction have a current market value of £1.3 billion.
 
AVEVA is one of the world's leading providers of engineering design and information management solutions and is listed on the London Stock Exchange. Schneider Electric's software product portfolio offers solutions in process engineering & optimisation, operations planning & scheduling, operations execution management, asset management, operations control and information management.
 
The Ashurst team is being led by corporate partners Karen Davies and Jeffrey Sultoon, assisted by senior associates David Dowding and James Fletcher, associate Marianna Kennedy and solicitors Andrew McLaren and Patrick Walsom. Competition advice is being provided by partner Neil Cuninghame and solicitor Danica Barley.