L&T

Larsen & Toubro (L&T), India’s leading engineering, technology, construction and financial services conglomerate, announced the closure of the strategic divestment of its Electrical & Automation (L&T E&A) business to Schneider Electric, a global player in energy management and automation. The significant and complex divestment deal, announced in May 2018 has been completed after receiving the requisite regulatory approvals and fulfilment of necessary conditions. L&T’s exit from the Electrical & Automation business is a part of the strategic portfolio review process. Mr A.M. Naik, Group Chairman, L&T said, “The closure of divestment of the E&A business is a key milestone in…