May 1, 2018 / 10:11 AM / 3 months ago

India's L&T to sell electrical & automation business for $2.1 bln

May 1 (Reuters) - India’s Larsen & Toubro said on Tuesday it had signed a deal to divest its electrical & automation business to Schneider Electric (India) and Schneider Electric JV Holdings, both part of Schneider Electric SE , for 140 billion rupees ($2.11 billion).

The cash deal covers all segments of electrical & automation business except marine switchgear and servowatch systems, L&T said here. ($1 = 66.5000 Indian rupees) (Reporting by Tanvi Mehta in Bengaluru; Editing by Gopakumar Warrier)

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