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The Competition Commission of India granted conditional approval for Schneider Electric India to acquire L&T's electrical and automation business via slump sale, and for MacRitchie Investments to acquire 35% shareholding in Schneider Electric India.
The Competition Commission of India approved the Rs. 14,000 crore acquisition of Larsen & Toubro's Electrical and Automation business by Schneider Electric India and MacRitchie Investments (Temasek), subject to modifications.