India's L&T to sell stake in infra unit in 1-2 months-chairman

MUMBAI Fri Aug 24, 2012 9:03am EDT

MUMBAI Aug 24 (Reuters) - Larsen & Toubro, India's biggest engineering conglomerate, plans to sell a stake in its wholly-owned infrastructure unit within the next two months, chairman A.M. Naik said at the company's annual shareholder's meeting on Friday.

L&T Infrastructure Development Projects Ltd (L&T IDPL) was in talks with private-equity investors including Temasek Holdings to raise $250 million to $300 million, three sources told Reuters in May. (Reporting by Ketan Bondre; Editing by Anand Basu)