L&T to divest 100% stake in LTIEL

NEW DELHI: L&T on Friday said it will sell its 100 per cent stake in subsidiary L&T Infrastructure Engineering Ltd (LTIEL) to a French entity. This transaction aligns with the company’s commitment to focus on its core businesses and assets.

“L&T...has announced the divestment of its 100 per cent stake in L&T Infrastructure Engineering Ltd ,” the company said in a statement. LTIEL is a provider of standalone engineering consultancy services for the infrastructure sector.

The stake will be acquired by STUP Consultants Pvt Ltd, a subsidiary of Assystem SA of France. The transaction, which is subject to meeting certain conditions, is likely to be completed before January 15, next year.