(FE)
Larsen & Toubro (L&T) on Tuesday announced that it has acquired the remaining 26 per cent stake in L&T Special Steels and Heavy Forgings Private Ltd (LTSSHF) from Nuclear Power Corporation of India Limited (NPCIL), for Rs 170 crore. L&T already holds 74 per cent shareholding in LTSSHF and following this, the latter will become a wholly-owned subsidiary of the infrastructure major.
In a regulatory filing, the company said, “We wish to inform you that the company has acquired the balance 26% stake in L&T Special Steels and Heavy Forgings Private Limited (LTSSHF), an existing subsidiary of the Company, from Nuclear Power Corporation of India Limited (NPCIL) and also executed the Joint Venture Termination Agreement with NPCIL. Consequently, LTSSHF has become a wholly owned subsidiary of the Company.”
