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
