Apollo, Blackstone set to put in final bids for Luminous Power

Blackstone and Apollo Global Management, two of the world’s biggest buyout funds, are set to submit binding offers to buy Luminous Power Technologies from French group Schneider Electric on Tuesday, the stipulated deadline, people aware of the developments said. Schneider is selling Luminous, a maker of inverters and industrial batteries that it acquired a decade ago, as part of a global portfolio realignment to exit non-core, consumer-centric