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L&T acquires controlling stake in Mindtree, reveals report


In March, L&T bought a fifth of Mindtree from coffee baron VG Siddhartha and companies related to him for Rs 32.69 billion (4.73 million) and said it planned to raise its stake to 66%.

Indian conglomerate Larsen and Toubro (L&T) has acquired a controlling stake in IT services company Mindtree, CNBC TV18 channel reported, citing sources. The report comes within months of Mindtree rejecting a hostile takeover bid from L&T, saying the plan was of no value for the firm or its shareholders.

L&T’s hostile bid to acquire a controlling stake in Mindtree is the first in ...


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