Torrent Power in talks to acquire L&T’s thermal power unit for USD 1 billion

Reportedly, Torrent Power Limited is in talks to acquire the thermal power business of Larsen & Toubro (L&T) Limited for approximately USD1 billion, including debt.

The proposed transaction is being facilitated with the support of financial advisers, as L&T seeks to divest its non-core thermal assets and focus on its core engineering and construction operations. The sale is expected to help L&T reduce its overall debt.