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Larsen & Toubro on Tuesday said it has acquired the remaining 26 per cent stake in L&T Cassidian Ltd (LTCL) — a joint venture between the company and Airbus Defence and Space GmbH (Airbus DS). The company has completed the purchase of the entire stake held by Airbus Defence and Space GmbH (earlier known as EADS Deutschland GmbH) in LTCL, in accordance with the share purchase agreement, L&T said in a notice to the exchanges. The stake held by Airbus DS has been acquired by L&T at ₹0.87 lakh, thus making LTCL a wholly-owned subsidiary, it further said. LTCL, which is yet to begin commercial operations, was set up to engage in the business of radars, avionics, electronic warfare and mobile segments for defence applications. The stock of L&T slipped about 0.63 per cent at ₹1,134.90 on the NSE.
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