To sell its entire stake in L&T General Insurance for Rs 551 crore
Larsen & Toubro entered into a share sale and purchase agreement with HDFC ERGO General Insurance Company for sale of its entire stake in L&T General Insurance, a wholly owned subsidiary of the Company for a total consideration of Rs 551 crore. The transaction envisages share sale by the Company to HDFC ERGO and subsequent merger of HDFC ERGO and LTGI. Upon closing, the Group would exit from the general insurance and health insurance business.Powered by Capital Market - Live News