Larsen & Toubro completes Electrical and Automation sale to Schneider
NEW DELHI: Infrastructure major Larsen & Toubro (L&T) has sold its Electrical & Automation (L&T E&A) business to Schneider Electric, a global player in energy management and automation. The deal, which was first announced in May 2018 is now complete, with the companies having acquired the requisite regulatory approvals and fulfilling the necessary conditions.
“The divestment is in line with L&T’s stated goal of unlocking value for future growth,” said L&T, adding that its exit from the business is part of the strategic portfolio review process.
