Larsen & Toubro Ltd.
BSE: 500510 | NSE: LT
Large Cap | Engineering - Construction
3783.90
-65.00 (-1.69%) L&T completes acquisition of Airbus DS’ entire stake in LTCL
Date: 03-10-2017Larsen & Toubro’s (L&T) has completed the purchase of the entire stake held by Airbus Defence and Space GmbH (Airbus DS) in L&T Cassidian (LTCL) -- a joint venture between L&T and Airbus DS, in accordance with the Share Purchase Agreement.
LTCL is a 74% subsidiary of L&T. Balance 26% stake is held by Airbus DS which has been acquired by L&T at a price as determined by an Independent valuer, thus making LTCL a wholly owned subsidiary.
Larsen & Toubro is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.