L&T completes divestment of Electrical & Automation business to Schneider Electric
1st Sep 2020

Larsen & Toubro (L&T) has completed 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, one of its kind in India announced in May 2018 has been completed after receiving the requisite regulatory approvals and fulfillment of necessary conditions.

The divestment is in line with L&T's stated goal of unlocking value for future growth. The company continuously evaluates its business portfolio and takes capital allocation decisions from a long-term perspective. Its exit from the Electrical & Automation Business is a part of the strategic portfolio review process.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.