L&T's Electrical Business Acquires UK based Thalest Limited
by Charmi Gutka
The Electrical & Automation business of Larsen & Toubro has acquired UK based Thalest Limited, the holding company of Serowatch Systems Ltd, Bond Instrumentation & Process Control Ltd and Servowatch Inc. Terms of the transaction were not disclosed.
Thalest Ltd offers integrated platform management system (IPMS) and Integrated Bridge System (IBS) solutions for naval warships and mercantile marine ships, vessels and floating systems. L&T has been active in this space. L&T alongwith Servowatch supplies IPMS and IBS solutions to the Indian Navy.
Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.
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