L&T completes divestment of electrical, automation business to Schneider

Larsen and Toubro (L&T) has completed the strategic divestment of its electrical and automation business to Schneider Electric.

With this move, India will become third largest country in terms of revenues for Schneider Electric. L&T had inked a definitive pact with Schneider Electric in 2018 to sell its electrical and automation business for an all-cash consideration of Rs 140 billion, as part of its long-term strategy to exit non-core activities.

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