Epic Concesiones Private Limited signed an agreement to acquire 51% stake in L&T Infrastructure Development Projects Limited from Larsen & Toubro Limited (BSE:500510) on December 19, 2022. Canada Pension Plan Investment Board also selling its 49% stake in L&T Infrastructure Development Projects Limited. The combined consideration of both is approximately INR 27.2 billion.

The transaction is subject to customary closing conditions including regulatory and other approvals. As of December 22, 2022. TriLegal Partners acted as legal advisor to L&T Infrastructure Development Projects Limited.

HSBC Securities and Capital Markets (India) Private Limited acted as financial advisor to Larsen & Toubro Limited (BSE:500510). As of March 14, 2023. The CCI also approved the acquisition of 100% of equity share capital of L&T Infrastructure Development Projects.

AZB & Partners acted as legal advisor to Larsen & Toubro Limited.