McDermott Will & Schulte advises Schneider Electric on its voluntary public tender offer for Shelly Group

McDermott Will & Schulte advised Schneider Electric, on Tax aspects, on the execution of an agreement with Shelly Group and its two founding shareholders, Dimitar Dimitrov and Svetlin Todorov, for the acquisition of Shelly, a provider of IoT and smart building solutions, through a voluntary public cash tender offer at a price of €70 per share.

The transaction values Shelly Group at approximately €1.2 billion ($1.4 billion).

The transaction aims to combine Schneider Electric’s technology offer for the residential, renovation and small commercial building markets with Shelly’s home energy management software platform.

The McDermott Will & Schulte team comprised:

• Anne-Sophie Maes, Partner, and Hugo Jentile, Associate, in Paris, and

• Timothy Shuman, Partner, and John Karasek, Counsel, on Tax matters, in Washington, D.C.