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Investment: French unit STUP acquires LTIEL

Fiinews by Fiinews
November 8, 2023
in Investment
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L&T to focus on its core businesses and assets

STUP Consultants Private Limited, a subsidiary of Assystem SA of France, has acquired 100% stake in L&T Infrastructure Engineering Limited (LTIEL), a provider of standalone engineering consultancy services for the infrastructure sector in India.

This transaction aligns with Larsen & Toubro’s commitment to focus on its core businesses and assets.

LTIEL, formerly known as L&T-Ramboll Consulting Engineers Limited, provides engineering consultancy services for India’s infrastructure sector. LTIEL revenues for FY23 was Rs.92 crore.

D K Sen, Advisor to Chairman and Managing Director, L&T and Chairman, LTIEL, shared his perspective on this development, “This is a step to exit the non-core standalone consulting engineering practice and focus energy and attention on our core businesses. It not only benefits L&T but also allows LTIEL and its employees greater avenues of growth.”

The transaction, announced on 3 Nov, is currently pending completion of customary closing conditions and is expected to be concluded before 15 Jan 2024. Fiinews.com

Tags: Larsen & Toubro
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Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

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