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Larsen & Toubro on Friday said it has signed an agreement to buy the entire stake of Old Lane Mauritius III Ltd in L&T Infrastructure Development Projects (L&T IDPL) for ₹47.9 crore. The conglomerate will buy 2.55 per cent stake (81,90,000 shares) of Old Lane in L&T IDPL. Post the completion of the acquisition, L&T will have 100 per cent shareholding in L&T IDPL, which was incorporated in 2001 and has been a pioneer of the public-private partnership model of development in India.
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