L&T completes sale of electrical & automation business to Schneider
Larsen & Toubro (L&T) has completed the strategic divestment of its electrical & automation (L&T E&A) business to Schneider Electric, a global player in energy management and automation. The all-cash deal was struck in May 2018 for Rs 14,000 crore.
The company said in a statement that it continuously evaluates its business portfolio and takes capital allocation decisions from a long-term perspective. Its exit from the E&A business is part of the strategic portfolio review process.
