India's L&T buys controlling stake in Mindtree

Credit: REUTERS/DANISH SIDDIQUI

Mindtree Ltd said on Wednesday that conglomerate Larsen & Toubro Ltd has acquired a 60.06% stake in the Indian IT services company.

BENGALURU, July 3 (Reuters) - Mindtree Ltd MINT.NS said on Wednesday that conglomerate Larsen & Toubro Ltd LRTI.NS has acquired a 60.06% stake in the Indian IT services company.

L&T will be categorised as a promoter in Mindtree, the company added.

The report comes within months of Mindtree rejecting a hostile takeover bid from L&T, saying that the plan was of no value for the company or its shareholders.

(Reporting by Chandini Monnappa in Bengaluru, Editing by Sherry Jacob-Phillips)

((chandini.m@thomsonreuters.com; +91-82-6749-7919; Reuters Messaging: chandini.m.thomsonreuters.com@reuters.net))

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