L&T to sell electrical & automation business for $2.1 billion

(Reuters) - India's Larsen & Toubro said on Tuesday it had signed a deal to divest its electrical & automation business to Schneider Electric (India) and Schneider Electric JV Holdings, both part of Schneider Electric SE, for 140 billion rupees ($2.11 billion).

The cash deal covers all segments of electrical & automation business except marine switchgear and servowatch systems, L&T said https://www.bseindia.com/xml-data/corpfiling/AttachLive/7c638062-1c8d-4362-b4bb-6da78d551c2a.pdf.

($1 = 66.5000 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Gopakumar Warrier)