Larsen & Toubro (L&T) will offload its entire stake in L&T Kobelco Machinery for around Rs 43.5 crore. Larsen & Toubro (L&T) and Kobe Steel have signed an agreement to that effect.
L&T Kobelco Machinery (LTKM) is a joint venture (JV) between L&T and Kobe Steel, wherein Larsen & Toubro holds 51 percent stake.
L&T has entered a definitive agreement with Kobe Steel,on 2 April 2019, for the divestment of its entire stake in L&T Kobelco Machinery. Following the divestment of stake, LTKM will cease to be L&T's subsidiary.