L&T completes divestment of L&T Infrastructure Development Projects

Larsen & Toubro (L&T) announced the completion of the divestment of L&T Infrastructure Development Projects (LTIDPL), a joint venture between Larsen & Toubro and the Canada Pension Plan Investment Board (CPP Investments) that owns 51% and 49% of the business respectively. . . LTIDPL pioneered the public-private partnership (PPP) infrastructure development model in India. L&Ts share (51%) and CPP Investments share (49%) have been acquired by Epic Concessioners, a subsidiary of Edelweiss Infrastructure Yield Plus Strategy, managed by Edelweiss Alternative Asset Advisors (EAAA).

This deal is in line with L&Ts strategy of exiting non-core businesses to reduce its exposure to asset-heavy development projects portfolio, thereby improving its return on equity.

This transaction represents a significant milestone towards the implementation of our strategic plan Lakshya 2026 and also provides a conducive environment for the growth of L&T IDPL under the Edelweiss alternatives. This transaction is the culmination of a long journey for L&T that began in the early 2000s in the development projects business and I have no doubt that IDPLs high-quality asset portfolio and team will add value to Edelweiss Alternatives infrastructure performance strategy in the future,” said D.K CMD and Head of Development Projects.