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L&T sells entire equity stake in L&T Infrastructure Development Projects

11 Apr 2024 Evaluate

Larsen & Toubro (L&T) has completed the sale of its entire equity stake in L&T Infrastructure Development Projects (L&T IDPL), a joint venture between L&T and Canada Pension Plan Investment Board (CPP Investments) holding 51% and 49% shares, respectively. Both L&T (51%) and CPP Investments (49%) stakes have been acquired by M/s Epic Concesiones. 

This deal is in line with L&T’s strategy to exit non-core businesses for reducing its exposure to the asset heavy developmental projects portfolio thereby enhancing its Return on Equity. Consequently, L&T IDPL and its subsidiaries have ceased to be subsidiaries of the Company. 

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

Peers
Company Name CMP
Larsen & Toubro 3699.10
Kalpataru Projects 1393.45
NCC 125.10
Rail Vikas Nigam 190.50
KEC International 369.70
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