For cash consideration of Rs 14000 crore
Larsen %26 Toubrosigned definitive agreements with Schneider Electric, a global player in Energy Managementand automation for strategic divestment of its Electrical and Automation (E&A) Businessfor an all-cash consideration of Rs 14,000 crore.L&T's E&A Businessoffers a wide range of low and medium voltage switchgear, electrical systems, marine switchgear, industrial and building automation solutions, Energy Managementsystems and metering solutions. Its Manufacturing Facilitiesare located at Navi Mumbai, Ahmednagar, Vadodara, Coimbatoreand Mysorein Indiaas well as in Saudi Arabia, UAE (Jebel Ali, Dubai), Kuwait, Malaysia, Indonesia, and the UK. Over the years, the E&A Businesshas built strong research and development capabilities and has a wide network of channel partners across Indiaand international markets.
The E&A Businessreported net revenue of Rs 5,038 crore during FY2016- 17.
The transaction includes all the current Businesssegments of E&A except marine Switchgearand Servowatch Systems
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