New Delhi: L&T has decided to sell its entire 100% ownership in its subsidiary, L&T Infrastructure Engineering Ltd (LTIEL), to a French company. This move is part of L&T’s strategy to concentrate on its primary businesses and assets. According to L&T, “We are divesting our complete stake in L&T Infrastructure Engineering Ltd.”
LTIEL specializes in offering engineering consultancy services for infrastructure projects. The buyer of this stake is STUP Consultants Pvt Ltd, a subsidiary of Assystem SA in France. The transaction is expected to be finalized before January 15 next year, subject to specific conditions being met.
D K Sen, Advisor to Chairman and Managing Director at L&T, explained, “This decision allows us to exit our non-core consulting engineering practice, enabling us to direct our efforts and resources towards our core businesses. It’s a win-win situation for L&T and opens up new growth opportunities for LTIEL and its employees.”
Larsen & Toubro (L&T) is a dynamic Indian multinational conglomerate that boasts a diverse portfolio spanning engineering, construction, manufacturing, technology, information technology, and financial services. Its headquarters are strategically located in Mumbai, while its technical services hub operates from Chennai. Recognized as one of the world’s leading construction giants, L&T was established by two visionary Danish engineers, Henning Holck-Larsen and Søren Kristian Toubro, who found a welcoming haven for their talents and aspirations in India.