France's Schneider Electric said it would combine its software unit with Britain's Aveva in a reverse takeover designed to create a global leader in industrial software. Schneider said it would pay 550 million pounds ($858 million) towards the issue of new shares in Aveva, a company that designs shipping, industrial plants and nuclear power stations. The French company will own 53.5 percent of Aveva, which will remain listed in London, with its shares worth about 1.3 billion pounds.
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Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University