APC 2003 Annual Report Download - page 104

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Note 28. Consolidated companies
The main companies included in the Schneider Group scope of consolidation are listed below.
Note 27. Subsequent events
On December 22, 2003, Schneider Electric signed two
agreements for the acquisition of additional shares in
MGE UPS Systems Group, in two transactions. After
obtaining the green light from the anti-trust authorities
in the United States, Europe and other jurisdictions, at
the beginning of 2004 the Group bought out the inter-
ests held by Legal & General Ventures and ABN
Amro, as well as around half of the shares held by
management and employees, representing in total
48.7% of MGE UPS Systems’ capital. Following this
transaction, Schneider Electric’s interest now stands
at 84.9%. The remaining 15.1% will be acquired in
2006 at a price based on 2005 operating income. The
transaction is expected to be carried out at an enter-
prise value of around € 850 million, including € 283
million in assumed debt (September 30, 2003 figures).
Consolidated and Parent Company Financial Statements
102
Percent interest Percent interest
Dec. 31, 2003 Dec. 31, 2002
FRANCE
Fully consolidated
Alombard 100,00 0,00
Ateliers de Constructions Electriques de Grenoble - ACEG 100,00 100,00
Auxibati SCI 100,00 100,00
BCV Technologies 100,00 100,00
Boissière Finance 100,00 100,00
Citef SAS 100,00 100,00
Crouzet Automatismes (sub-group) 100,00 100,00
Distrelec 100,00 100,00
E-Business @ Schneider Electric SAS 100,00 100,00
Electro Porcelaine 100,00 100,00
Elkron France 100,00 100,00
Etablissements Bardin merger 100,00
Euromatel 100,00 100,00
France Transfo 100,00 100,00
Infra + 38,08 38,08
Le Moule Métallique 100,00 100,00
Machines Assemblage Automatique 100,00 100,00
Mafelec 100,00 100,00
Materlignes 100,00 100,00
Merlin Gerin Alès 100,00 100,00
Merlin Gerin Alpes 100,00 100,00
Merlin Gerin Loire 100,00 100,00
Muller & Cie 100,00 100,00
Normabarre 100,00 100,00
Num SA 100,00 100,00
Berger Lahr Positec Sarl 100,00 100,00
Prodipact 100,00 100,00
Rectiphase 100,00 100,00
SAE-Gardy 100,00 100,00
Sarel Appareillage Electrique 99,00 99,00