Larsen & Toubro divests entire stake in L&T Infrastructure Development Projects ...Middle East

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Larsen & Toubro divests entire stake in L&T Infrastructure Development Projects
New Delhi: Engineering major Larsen & Toubro (L&T) has announced the completion of the divestment of L&T Infrastructure Development Projects Limited (LTIDPL), a joint venture of Larsen & Toubro Limited and Canada Pension Plan Investment Board (CPP Investments) holding 51 per cent and 49 per cent shares respectively. Both L&T (51 per cent) and CPP Investments (49 per cent) stakes have been acquired by Epic Concesiones Private Limited, an investee company of Edelweiss Infrastructure Yield Plus Strategy, managed by Edelweiss Alternative Asset Advisors Limited (EAAA). This deal is in line with L&T’s strategy to exit non-core businesses for reducing its exposure to the asset heavy developmental

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