Schneider Extends Tender Offer For Telvent GIT To Sep 12

French electrical engineering and power management company Schneider Electric SA (SU.FR) said Tuesday it had extended its tender offer to buy 100% of software maker Telvent GIT SA (TLVT) until Sept. 12.

Schneider said it had obtained all the regulatory authorizations to go ahead with the deal, but for Serbia's competition watchdog that is due to give its advice by Sept. 8.

The company previously said investors had already handed over 98% of the outstanding shares in Telvent as of Aug. 2

Schneider Electric offered $40 for each share of Telvent and the operation values Telvent at about EUR1.4 billion.

Spanish engineering and renewable energy company Abengoa SA (ABG.MC) agreed to sell its 40% stake in Telvent to Schneider Electric and some Abengoa managers also agreed to sell a 1.5% stake they hold in Telvent.

Schneider had already extended the tender offer in late July and early August.

-By Gabriele Parussini, Dow Jones Newswires; +33 1 4017 1740; gabriele.parussini@dowjones.com

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