French electrical engineering and power management company Schneider Electric SA (SU.FR) said Wednesday it has successfully completed its cash tender offer to purchase all of the issued shares of Telvent GIT, S.A. (TLVT) for $40 per share and started a subsequent offering period to acquire the remaining untendered shares.

MAIN FACTS:

- The tender offer and withdrawal rights expired at 5:00 p.m., New York City time, on Tuesday, August 30, 2011. According to the depositary for the tender offer, approximately 33,187,514 shares were validly tendered and not withdrawn as of the expiration time. This represents approximately 97% of Telvent's issued shares.

- Schneider Electric will seek a general shareholders' meeting of Telvent for the purposes of obtaining the requisite shareholder approval of a redemption of each share of Telvent not owned by Schneider Electric and its affiliates. If approved, each such share of Telvent not owned by Schneider Electric and its affiliates would be cancelled and converted into the right to receive $40 in cash without interest and less any applicable withholding taxes and deductions in respect of Spanish capital tax.

- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; inti.landauro@dowjones.com

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