DEBATE
The Grasim-L&T deal looks like a win-win situation on the face of it, but there are a few concerns, too
Last week, A V Birla flagship Grasim Industries struck a deal to acquire control of L&T's cement business.
The deal involves spinning off L&T's cement business into a separate company, paving the way for Grasim to take control of the cement company while exiting the engineering business. Here is the sequence in which the deal is being structured:
Stage I: L&T will demerge the cement business through a vertical split. L&T will hold a 20 per cent stake in the cement company, while 80 per cent will be distributed to shareholders in proportion to their holding in L&T. Grasim
