L&T sells its electrical and automation business to Schneider Electric for Rs 14,000 crore
Larsen & Toubro announced the long-awaited closing of its deal to sell its electrical and automation business to France headquartered-Schneider Electric after the two companies announced a deal worth Rs 14,000 crore in May 2018.
The COVID-19 pandemic has disrupted the closing of this deal which was expected to be finalized in early 2020. With this, all-cash deal, the $ 21 billion Indian engineering major has exited its only products business in order to focus on its core competencies in construction and engineering and the high margin services business.
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Last Update : Sep 02, 2020 6:20 AM
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