Larsen & Toubro (L&T), India's engineering, technology, construction and financial services conglomerate, announced the closure of the strategic divestment of its Electrical & Automation (L&T E&A) business to Schneider Electric.
The significant and complex divestment deal has been completed after receiving the requisite regulatory approvals and fulfilment of necessary conditions, L&T said in the press release.
L&T's E&A business includes a wide range of low and medium voltage switchgear, electrical systems, industrial and building automation solutions, energy management systems, metering solutions and projects and services business, all of which are transferred to Schneider Electric.
Schneider Electric will use related brand insignia for a specified period.
