Larsen & Toubro announces Divestment of L&T Infrastructure Engineering Limited (LTIEL)

Mumbai: Larsen & Toubro (L&T), an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services, has announced the divestment of its 100% stake in L&T Infrastructure Engineering Limited (LTIEL), a provider of standalone engineering consultancy services for the infrastructure sector in India. The stake has been acquired by STUP Consultants Private Limited, a subsidiary of Assystem SA of France.

This transaction aligns with Larsen & Toubro’s commitment to focus on its core businesses and assets. LTIEL, formerly known as L&T-Ramboll Consulting Engineers Limited, provides engineering consultancy services for India's infrastructure sector. LTIEL revenues for FY23 was Rs.92 crore.

Mr. D K Sen, Advisor to Chairman and Managing Director, L&T and Chairman, LTIEL, shared his perspective on this development: "This is a step to exit the  non-core standalone consulting engineering practice and focus energy and attention on our core businesses. It not only benefits L&T but also allows LTIEL and its employees greater avenues of growth."

The transaction is currently pending completion of customary closing conditions and is expected to be concluded before January 15^th, 2024.