Shelly Group Agrees to Schneider Electric's EUR1.2 Billion Offer

MT Newswires · 3d ago
02:21 AM EDT, 09/24/2026 (MT Newswires) -- Shelly Group (SLYG.F) reached an investment agreement with Schneider Electric (SU.PA) for the latter's planned takeover of the Bulgaria-based smart building devices manufacturer at 70 euros per share, valuing it at 1.2 billion euros. Shelly Group's board and two founding shareholders, who hold a combined 57% stake in the company, are backing the potential offer, according to a Thursday release. The French energy management and automation company is expected to register its offer with the Bulgarian Financial Supervision Commission within three business days. Subject to regulatory clearances and a minimum acceptance threshold of 95%, the transaction is expected to close in the first quarter of 2027. Shelly Group said the deal would support its next phase of development as an international technology and platform company, while preserving its entrepreneurial culture, organization, and workforce in Bulgaria.