News story

Government to take no further action under NSI Act 2021 on Aveva group acquisition

The government has powers under the National Security and Investment Act 2021 to scrutinise and, if necessary, intervene in qualifying acquisitions on national security grounds.

• From: Department for Business, Energy & Industrial Strategy
• Published: 7 December 2022

This was published under the 2022 to 2024 Sunak Conservative government

The acquisition by Ascot Acquisition Holdings Limited (an indirect subsidiary of Schneider Electric SE) of Aveva Group Plc was notified to the Investment Security Unit in October 2022.

Following screening of the notification, the Business Secretary has decided that no further action will be taken under the Act in relation to the acquisition.

Published 7 December 2022