Larsen & Toubro concludes Divestment of its entire stake 51% in L&T Infrastructure Development Projects Limited (L&T IDPL).

Economy Business

Larsen & Toubro (L&T) has announced the completion of divestment of L&T Infrastructure Development Projects Limited (L&T IDPL), a joint venture between Larsen & Toubro Limited and the Canada Pension Plan Investment Board (CPP Investments) holding 51% and 49% shares respectively. Both L&T (51%) and CPP Investments’ (49%) stakes have been acquired by M/s 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 projects portfolio, thereby enhancing its Return on Equity.


      L&T IDPL has been a pioneer in Public-Private-Partnership (PPP) model of infrastructure development in India.

     

     

 

     


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