Larsen & Toubro : Updates

Sr.

No.

Details of events that needsto be provided

Information of such event

1

Name ofthe Target Company and brief detailssuch as size, turnover

L&T Cassidian Limited(LTCL) with net worth of Rs. 332,408 as on March 31, 2017 .The Company is yet to commence commercial operations and hence the turnover of the Company is NIL

2

Whether the acquisitionwill fall within related party transactions and whether thepromoter/promoter group/group companies have anyinterest inthe entity being acquired?If yes, nature of interest and details thereof andwhether the same isdone at armslength.

LTCL is a 74% subsidiary of L&T. Balance 26% stake is held by Airbus OS which has been acquired by L&T ata price as determined by anIndependent valuer, thus making LTCL a wholly owned subsidiary

3

Industry towhich the entity acquiredbelongs

LTCLis yet to commencecommercial operations.The JV was formed toengage inthe businesssegments of radars,avionics, electronic warfareand mobile segments for defenceapplications.

4

Objects and Effects ofacquisition (disclosure of reasonsfor

The acquisition shallresult in L&T holding 100% equity stake inLTCL .The

acquisition of target entity ifits

business segments on the target entity

business outside the main lineof

i.e. LTCL are not outside the main line

5

business)

Brief details of any governmental

of business of L&T Notapplicable

or regulatory approvals required

for theacquisition

6

Indicative time periodfor

October 3, 2017

completion of theacquisition

7

Natureof consideration

Cash

8

Cost of Acquisition

Rs. 0.87 lakhs

9

Number andpercentage of

13,000 shares aggregating to 26% of

shareholding acquired

the shareho lding

10

Brief background ofthe entity acquired (product/lineof

LTCL isyet to commence commercialoperations .The JV was formedto

business acquired, dateof

engage in thebusiness segments of

incorporation/history oflast three

radars, avionics, electronic warfare and

years turnover)

mobile segments for defence

applications.