Larsen & Toubro (L&T) has entered into a definitive agreement to divest in its electrical and automation business for Rs.14,000 crore, to Schneider Electric.

The deal covers all segments of its electrical and automation business, except marine switchgear and servowatch systems. The divestment is expected to be completed within 18 months.

Furthermore, SN Subrahmanyan, company’s Chief Executive stated, “The divestment of E&A business is in line with L&T’s stated intent of unlocking value within the existing business portfolio to streamline and allocate capital and management focus for creating long-term value for our stakeholders.”

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