Rothschild, financial adviser to Schneider Electric, is set to profit from General Electric's need to sell off assets to gain European Union clearance for its $40bn ($37bn) merger with Honeywell.

Schneider, the French electronic equipment maker, confirmed on Thursday that it would consider buying some of GE's assets. It could spend as much as €3bn ($2.8bn) in cash on acquisitions and raise plenty more by way of debt.