In September 2011 Crédit Agricole CIB acted as financial advisor to Schneider Electric in its friendly all cash tender offer on Telvent’s ordinary shares at a price of USD 40. The transaction value is approximately EUR 1.4 billion, on an enterprise value basis.

Telvent, which was listed on the Nasdaq, is a Madrid-based solution provider specialised in high value-added IT software and solutions for real-time management with applications mainly in the energy, transport and water segments. This acquisition will significantly reinforce Schneider Electric’s positions in the fields of efficient infrastructures, and notably in the smart grid area.

Crédit Agricole CIB has notably advised Schneider Electric in the discussions with Abengoa, the Spanish group holding 40% Telvent’s share-capital and Telvent, which led to:

• the irrevocable commitment from Abengoa to tender its shares in the offer,
• the recommendation by Telvent’s Board of Directors of Schneider Electric’s offer.

Crédit Agricole CIB, through Crédit Agricole Securities (USA) Inc., also acted as dealer manager for the offer, which expired on 28 September 2011.

"This transaction strengthens the relationships between Schneider Electric and Crédit Agricole CIB and confirms the global expertise of Crédit Agricole CIB’s Investment Banking business line", says Didier Gaffinel, Senior Banker.