Larsen & Toubro Ltd.

Larsen & Toubro (L&T) has entered into an amendment agreement with Canadian Pension Plan Investment Board (CPPIB) with respect to the original Investment Agreement entered into with them in 2014 under which CPPIB had invested in Compulsorily Convertible Preference Shares (CCPS) issued by L&T Infrastructure Development Projects (L&T IDPL), a wholly owned subsidiary of L&T.

As per the amendment agreement, the CCPS held by CPPIB will, upon conversion, give them 48.99% equity stake in L&T IDPL.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.