L&T inks pact with Schneider Electric to divest E&A biz for Rs 14K Cr

Larsen & Toubro announced that it has inked definitive agreements with Schneider Electric to sell its Electrical and Automation (E&A) business for an all-cash consideration of Rs 14,000 crore.

L&T’s E&A business offers a wide range of low and medium voltage switchgear, electrical systems, marine switchgear, industrial and building automation solutions, energy management systems and metering solutions. Its manufacturing facilities are located at Navi Mumbai, Ahmednagar, Vadodara, Coimbatore and Mysore in India as well as in Saudi Arabia, UAE (Jebel Ali, Dubai), Kuwait, Malaysia, Indonesia, and the UK.

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