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.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4094.95 |
| Rail Vikas Nigam | 303.10 |
| NCC | 161.30 |
| KEC International | 580.10 |
| Kalpataru Projects | 1232.90 |
| View more.. | |
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