Schneider Electric Finalizes Sale Of Juno Lighting To Acuity Brands For $385 Mln

(RTTNews) - French energy management firm Schneider Electric S.A. (SBGSF.PK) Friday announced that it has finalized the sale of JunoLighting, LLC to Acuity Brands, Inc. (AYI), a provider of innovative lighting solutions, for a consideration of approximately $385 million or about 350 million euros.

The company said it has obtained all required regulatory approvals for the deal.

The transaction will generate a capital loss of up to $300 million or about 270 million euros. Such loss will be excluded from the basis of calculation for Schneider Electric's 2015 dividend.

It was on October 30 that Schneider Electric announced its agreement to sell Juno to Acuity Brands.

Juno is a North American supplier, specialized in recessed and track lighting fixtures, in residential and commercial sectors. The business generated revenues of $230 million and an EBITDA of $32 million in 2014.