Engineering and construction giant Larsen & Toubro (L&T) has announced plans to acquire a 40% stake in L&T Sapura Shipping for ₹122 crore, strengthening its presence in the shipping and offshore services sector.
The acquisition is part of L&T’s strategy to expand its maritime and offshore capabilities and enhance synergies with its existing businesses. L&T Sapura Shipping operates a fleet of vessels and provides specialized offshore shipping services, catering to both domestic and international clients.
A company spokesperson said, “This investment reflects L&T’s commitment to strategic partnerships and growth in the shipping sector, enabling us to leverage operational expertise and deliver enhanced value to stakeholders.”
The transaction is expected to close in the coming months, subject to regulatory approvals and customary conditions.