L&T & CPP Investments to sell their entire shareholding in L&T IDPL
Capital MarketLarsen & Toubro (L&T) has entered into a Share Purchase Agreement (Agreement) to transfer its entire shareholding in L&T Infrastructure Development Projects (L&T IDPL) along with its subsidiaries on 16 December 2022. On completion of the sale under the Agreement, L&T Infrastructure Development Projects along with its subsidiaries shall cease to be subsidiary companies of L&T.
LTIDPL is a joint venture between Larsen & Toubro and Canada Pension Plan Investment Board (CPP Investments) holding 51% and 49% shares respectively.
The gross proceeds to L&T and CPP Investments from the sale would be approximately Rs 2723.4 crore, before closing adjustments and other terms of the transaction.
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