Deals
Biggest Indian Engineering Company Considering IT Buyouts
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Larsen & Toubro Ltd., India’s biggest engineering company, is open to spending as much as $1 billion on acquisitions for its software-services unit as the subsidiary prepares for an initial public offering.
Buying companies will help L&T Infotech build scale and compete with larger rivals, R Shankar Raman, Larsen’s Mumbai-based chief financial officer, said in an interview. The company may spend between $100 million and $1 billion, he said, without being more specific.