Breaking News

You are here » Indian-Commodity  :  Top News  :  L&T inks pact with Schneider Electric to divest E&A business

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.


Related News

View all news

Gold futures end higher on Tuesday

Gold futures finished higher on Tuesday, marking biggest single-session percentage rise since November, as investors increased bullion investments amid potential progress on Brexit and trade talks between......

Jeera futures trade lower on NCDEX

Jeera futures traded lower on NCDEX, as speculators reduced exposure on account of reduced export demand in the physical market. Moreover, expectation of higher production due to adequate availability......

Copper futures end higher on weaker dollar

Copper futures ended higher on Tuesday due to a weaker US dollar and hopes that the United States and China would forge a trade deal. A new round of talks between the United States and top metals consumer......

Top News

View all news

Tata Motors signs LTS agreement with its employees

Tata Motors has signed a long-term wage settlement (LTS) agreement with its employees. Under the agreement, workmen will get a wage rise of Rs 9,000 per month along with other incentives based on performance.......

Canara Bank invites bids from merchant bankers to manage its $350-500 million MTN issue: Report

Canara Bank has reportedly invited bids from merchant bankers to manage its $350-500 million issue of senior unsecured/tier-II capital bonds under its medium-term note (MTN) programme. The issue size may......

Alembic Pharma gets USFDA's nod for Acetazolamide Extended-Release Capsules

Alembic Pharmaceuticals (Alembic) has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Acetazolamide Extended-Release Capsules, 500......