Schneider Electricals SA, the French electrical giant, is said to be in the final stages of negotiations with Anchor Electricals. It has taken about eight months of negotiations between the parties to agree a proper price of the stakes. The deal is estimated to be around Rs 2,400 crore.
This will help Schneider Electric India, to cement its position in the fast growing switches, sockets and circuit braker industry. Anchor has 50 per cent market share, registering 20 per cent growth over the past few years.