In order to improve its performance, Larsen & Toubro (L&T), the infrastructure conglomerate, is reportedly planning to sell some assets including roads and infrastructure projects and dilute its stake in non-core subsidiaries. The company has been selling stakes in some of its subsidiaries over the last 18 months and looked at listing others on the stock exchange. The company, which manufactures anything from metro trains to submarines to parts for nuclear reactors, will also appoint individual unit chief executives and individual boards to support independence and boost returns among its more than 70 businesses.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $15 billion in revenue. It operates in over 30 countries worldwide.
