Larsen & Toubro to sell 49 percent stake in insurance arm to foreign entity

29 Feb 2016

Larsen & Toubro (L&T) is planning to sell 49 percent stake in its general insurance company to a foreign entity. The deal is expected to be finalised in the next three to six months. L&T General Insurance Company is a wholly owned subsidiary of the company and among the few in the sector without a foreign partner.

The Insurance Laws (Amendment) Act of 2015 has allowed foreign direct investment (FDI) up to 49 percent in insurance companies. Earlier, only 26 percent FDI was allowed.

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.

Related Larsen & Toubro Ltd. Links:

Larsen & Toubro Share Price

1480.80 7.95 (0.54%) Mar 02, 14:01
1 Year Price Chart
Company Name CMP
Larsen & Toubro 1480.80
Rail Vikas Nigam 32.50
KEC International 465.00
NCC 93.75
PNC Infratech 264.35
View more..
Sensex vs Larsen & Toubro
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323