India: L&T to acquire partner in L&T IDPL, make it fully-owned arm

India: L&T to acquire partner in L&T IDPL, make it fully-owned arm

Photo: Reuters

Larsen & Toubro (L&T) will buy out its partner, Old Lane, in L&T Infrastructure Development Projects Limited (L&T IDPL) to convert it into a fully-owned subsidiary. The engineering giant will buy out the 2.5% shareholding of the long-time investor in L&T IDPL for Rs47.99 crore.

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