 "Larsen & Toubro, L&T")
Larsen & Toubro’s (L&T) definitive agreement with Schneider to sell its electrical and automation (E&A) business in an all-cash deal for Rs 140 billion (slightly more than $2 billion) is on expected lines of analysts.
Santosh Yellappu, analyst at India Nivesh, says, the deal valuations are fair and the company is pursuing its objective of becoming asset-light. Earlier Credit Suisse, too, had anticipated the electrical business’ value at ₹140-160 billion.
The business had reported net revenue of Rs 50.38 billion (about five per cent of overall) during FY2016-17, with Ebitda margins of about 15 per cent. Thus, the
Santosh Yellappu, analyst at India Nivesh, says, the deal valuations are fair and the company is pursuing its objective of becoming asset-light. Earlier Credit Suisse, too, had anticipated the electrical business’ value at ₹140-160 billion.
The business had reported net revenue of Rs 50.38 billion (about five per cent of overall) during FY2016-17, with Ebitda margins of about 15 per cent. Thus, the
