France’s Schneider Electric has announced an agreement to acquire Bulgarian tech company Shelly Group for EUR 1.2 billion. The entire transaction will be paid in cash, Schneider Electric said on Thursday.
Schneider Electric confirmed its intention to launch a voluntary public tender offer for Shelly Group, subject to approval by the Bulgarian regulator, according to the announcement.
Closing of the transaction is expected by the end of the first quarter of 2027.
Under the offer, the French company intends to pay EUR 70 per share for all Shelly Group shares it does not already own. The offer will be subject to a minimum acceptance threshold of 95% of the Bulgarian company’s share capital. This will allow Schneider Electric to acquire full ownership through a subsequent buyout of the remaining shareholders.
The deal was welcomed by Shelly Group and its two founders, Dimitar Dimitrov and Svetlin Todorov, who together own approximately 57% of the company’s share capital and have agreed to sell their shares under certain conditions as part of the overall transaction.
Dimitrov is expected to accept the tender offer for his shares, representing approximately 29% of the company’s share capital, and to reinvest part of the proceeds together with Schneider Electric for a period of at least three years.
Schneider Electric has agreed to acquire from Svetlin Todorov approximately 28% of the company’s share capital, currently held by him personally and through his own company, Salisto Holdings.
The tender offer will be filed with the Financial Supervision Commission (FSC), Schneider Electric said. Following the successful completion of the FSC’s review, the full terms of the offer will be published in accordance with applicable laws and regulations, after which the acceptance period for shareholders will begin.
The acquisition would combine Shelly Group’s software-based home energy management platform with Schneider Electric’s technological leadership in residential buildings, building renovation and small commercial premises.
In late July, Shelly Group announced that it was in preliminary discussions with Schneider Electric regarding a potential tender offer for the shares of the Bulgarian company.
France’s Schneider Electric Reaches EUR 1.2 Bln Deal to Acquire Bulgaria’s Shelly Group THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-09-24 07:15:34
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