M&A
L&T buys Chiyoda's 50% stake in JV for Rs.75-Cr
Publicly listed, Mumbai-based Larsen & Toubro Limited has purchased the 50% stake of Japan-based Chiyoda Corporation in their joint venture, L&T-Chiyoda Limited (LTC) for INR 75 crore. LTC was incorporated as a 50-50 joint venture between L&T and Chiyoda in 1994 to provide engineering and related services for the Hydrocarbon industry, LTC has worked on more than 300 projects including complex refinery and petrochemical processes. The turnover of L&T-Chiyoda Limited for FY22 was INR 324.81 crore. Its Net worth was INR 96.35 crore.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
