 "Larsen and Toubro")
Engineering major Larsen & Toubro (L&T) on Saturday said that it had along with joint-venture partner Canadian Pension Plan Investment Board (CPPIB) divested their stakes in L&T Infrastructure Development Projects (IDPL) for Rs 2,723.40 crore.The enterprise value of the transaction has been pegged at Rs 6,000 crore.
The acquirer is Epic Concesiones, which is a special vehicle purpose (SPV) floated by Infrastructure Yield Plus II, an infrastructure fund managed by Edelweiss Alternative Asset Advisors. The portfolio includes eights roads and one power transmission asset.
L&T IDPL is a 51:49 JV between L&T and CPPIB. CPPIB had invested in the JV in 2014.
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