Mumbai: Larsen and Toubro Ltd (L&T), India’s largest engineering and construction group, said it expects to sell its electrical unit and spin out its road assets trust by March 2018, a sign that funding for plans to acquire more companies in information technology (IT) will soon be in place.
Schneider Electric SE is in exclusive talks to buy the electrical unit, valuing it at around $2 billion, people familiar with the matter said last week.