L&T acquires 50 % stake in LTR
The economy seems to be taking an upturn by looking at the number of activities in the corporate world. L&T (Larsen and Toubro) declared that it has acquired 50 % stake in L&T-Ramboll Consulting Engineers Ltd (LTR) held by Ramboll Denmark. With this acquisition, LTR now becomes a wholly owned subsidiary of L&T.
L &T said the company will continue to offer single point ‘concept to commissioning’ consultancy services for infrastructure projects like airports, roads, bridges, ports and maritime structure, including environment, transport planning and other related services.
If we go back to the history of L&T then we will see that LTR was incorporated in 1998 with L&T contributing 50 % of the authorised and paid-up capital. Ramboll Denmark and Industrialization Fund for Developing Countries (IFU) contributed 26 % and 24 % respectively. Ramboll Denmark purchased IFU’s 24 % stake in 2004.
LTR has its registered office in Chennai and regional offices in Hyderabad, Delhi and Mumbai. They have about 250 engineers on board, and are looking at expansion plans soon.
Post-acquisition, the company will be rechristened as L&T Infrastructure Engineering Ltd. S N Subrahmanyan the Senior Executive Vice-President (Infrastructure and Construction) stated that this acquisition is a significant move to strengthen the company’s EPC (Engineering, Procurement and Construction) offering in the infrastructure sector.
Source- The Hindu Business Line
Airports, Bridges, Industrialization Fund for Developing Countries, Infrastructure projects, L&T-Ramboll Consulting Engineers Ltd, Larsen and Toubro, LTR, ports, Ramboll Denmark, Roads, transport planning
