 "L&T gains as Mitsubishi eyes stake in co")
Shares in Larsen & Toubro gained 2.60 percent on BSE, after Japan’s Mitsubishi Heavy Industries executive expressed interest in acquiring a stake in L&T Shipbuilding “within a few years.”
Mitsubishi Heavy currently provides L&T Shipbuilding with technological assistance, ranging from design drawings to quality control, under a tie-up agreement signed by the two companies in December last year.
[caption id=“attachment_342397” align=“alignleft” width=“380” caption=“L&T says no discussion has taken place on a stake sale. Reuters”]
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However, L&T said no discussion has taken place on a stake sale.
“So far we have no discussions on this at all,” said .V. Kotwal, President of L&T Heavy Engineering, said. “But if in future such a situation arises, definitely we will be looking at it on merit,” he added, referring to a stake sale.
Reuters