L&T concludes Divestment of its Entire 51% Stake in L&TIDPL

Delhi, April 11, 2024 :  Larsen & Toubro(L&T) has announced the completion of divestment of L&T Infrastructure Development Projects Limited (LTIDPL), a joint venture between Larsen & Toubro Limited and Canada Pension Plan Investment Board (CPP Investments) holding 51% and 49% shares respectively.  Both L&T (51%) and CPP Investments (49%) stakes have been acquired by M/s Epic Concesiones Private Limited, an investee company of Edelweiss Infrastructure Yield Plus Strategy, managed by Edelweiss Alternative Asset Advisors Limited(EAAA).

 “This transaction marks the achievement of a significant milestone towards the execution of our strategic Lakshya 2026 plan and also provides a conducive environment for growth to L&T IDPL under Edelweiss Alternatives. The transaction is the culmination of a long journey for L&T that started in early 2000s in the Developmental Projects business and I have no doubt that the portfolio of good quality assets and team of IDPL will add value to Infrastructure Yield Strategy of Edelweiss Alternatives platform going forward. I would also like to thank the concession authorities and lenders to IDPL for their valuable support to this divestment”. said DK Sen, Advisor to CMD & Head – Development Projects.