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02-May2018

L&T inks pact with Schneider Electric to divest E&A business

Larsen & Toubro (L&T) has signed definitive agreements with Schneider Electric, a global player in energy management and automation for strategic divestment of its Electrical and Automation (E&A) business for an all-cash consideration of Rs 14,000 crore, subject to regulatory approvals. The transaction includes all the current business segments of E&A except marine switchgear and Servowatch Systems.

L&T's E&A business offers a wide range of low and medium voltage switchgear, electrical systems, marine switchgear, industrial and building automation solutions, energy management systems and metering solutions. Its manufacturing facilities are located at Navi Mumbai, Ahmednagar, Vadodara, Coimbatore and Mysore in India as well as in Saudi Arabia, UAE (Jebel Ali, Dubai), Kuwait, Malaysia, Indonesia, and the UK.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $17 billion in revenue.


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