M&A

M&A

L&T sells engg consultancy services arm to French co Stup for Rs.60-Cr

BSE Disclosure   Business Line  

Larsen & Toubro (L&T) has sold its 100% stake in Chennai-headquartered unit, L&T Infrastructure Engineering Ltd (LTIEL) - a provider of standalone engineering consultancy services for the infrastructure sector - to Stup Consultants Pvt Ltd, a subsidiary of Assystem SA of France for INR 60 crore. 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 Ltd, provides engineering consultancy services for the infrastructure sector. It posted revenues of INR 92 crore for FY23.