Larsen & Toubro (L&T) has announced the divestment of its 100 per cent stake in L&T Infrastructure Engineering Limited (LTIEL).
The stake has been acquired by STUP Consultants Private Limited, a subsidiary of Assystem SA of France. This transaction aligns with L&T’s commitment to focus on its core businesses and assets. LTIEL, formerly known as L&T-Ramboll Consulting Engineers Limited, provides engineering consultancy services for India’s infrastructure sector. LTIEL revenues for 2022-23 was Rs 0.92 billion. The transaction is currently pending completion of customary closing conditions and is expected to be concluded before January 15, 2024.