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L&T starts due diligence to buy Crompton Greaves' proj biz
Larsen & Toubro, or L&T, is undertaking due diligence to acquire Crompton Greaves' project business, sources said. The project business contributes around 10-15% of the company's standalone revenues.
Crompton Greaves FY08 consolidated and standalone revenues stood at Rs 6,830 crore and Rs 3875 crore, respectively.
When contacted, L&T's management said it does not comment on market speculations. While Crompton Greaves' management could not be reached for comment.
Sources said Crompton Greaves has always maintained that products rather than engineering, procurement, and construction, or EPC, projects are its area of focus. The divestment would increase focus on the products business.
Larsen & Toubro, or L&T, is undertaking due diligence to acquire Crompton Greaves' project business, sources said. The project business contributes around 10-15% of the company's standalone revenues.
Crompton Greaves FY08 consolidated and standalone revenues stood at Rs 6,830 crore and Rs 3875 crore, respectively.
When contacted, L&T's management said it does not comment on market speculations. While Crompton Greaves' management could not be reached for comment.
Sources said Crompton Greaves has always maintained that products rather than engineering, procurement, and construction, or EPC, projects are its area of focus. The divestment would increase focus on the products business.